Gotta love this – alot of the “tips” that I’ve had on my blog came from the internet itself. An architectural firm that was a little too descriptive with their description, or a construction firm that was too quick to publicize the projects that they are working on. Today, Steve Cuzzo – the real estate reporter for the NY Post, along with some help from Curbed.com did some sleuthing which ended up with an anonymous comment stating it was going to be a Park Hyatt. Then – perhaps by just visiting the website of the company whose workers and name is all over the site (AEGIS – a security design firm) found a description for “Park Hyatt- Extell – w 57th Street” on their website.

Ah, gotta love good old fashioned investigations based on information that’s publicly available! It’s where alot of my scoops come from!

This is pretty big news because the site on 57th Street right next to Carnegie Hall has been vacant for awhile now, and Extell Development, the owner of the site has not given any indication as to what is going to be built on the site – besides saying a hotel and condos – sometimes it’s even been non-committal on that. W 57th Street is almost like a secondary 5th Ave, a wide street with a high-end feel. It’s also the street where Hilton is building their first timeshare property and Starwood Capital owns property that was expected to be the first Crillon Hotel built in America.

This would be only the second Hyatt in New York City, which is surprising since its such a high end brand that should have more exposure to the New York City market. Its due to have condos, as well as hotel rooms and be in the range of 60-80 stories. The hotel portion will take up less than 1/3rd of the entire tower, the largest part will be the condos. Since details on the entire project are so sketchy – it’s impossible to tell if the condos will be branded as Hyatt Residences, or if it will be a completely separate offering

So now the identity of what will be built on one site on W 57th has been discovered – the question in my mind is what will happen to Starwood Capital’s site a little further east?

andrew@alconic-inc.com