Luxury Hotel and Condos to be built next to Brooklyn Bridge
by Heather Holman on Thursday, June 21, 2012
The development will feature unobstructed views of lower Manhattan, the Brooklyn Bridge, New York Harbor, the Statue of Liberty, and the Park. Residents and hotel guests will enjoy easy access to Wall Street, Midtown Manhattan and Brooklyn from the East River Ferry and New York City Subway systems. In addition, the project will offer direct access to the spectacular Brooklyn Bridge Park, an 85-acre waterfront site stretching along Brooklyn's East River edge. The development will total approximately 550,000 square feet, including nearly 16,000 square feet of indoor and outdoor restaurant space, 16,000 square feet of banquet and meeting space, over 2,000 square feet of retail space, a 6,000 square foot spa and fitness center and 300 underground parking spaces. The 10-story hotel and condominium complex and five-story condominium building are being designed by Rogers Marvel Architects. The project, which will feature a stepped facade of stone and metal, green roofs, a variety of walkways to access the park and Furman Street, is projected to achieve LEED Silver Certification.
The development will feature a 1 Hotel, Starwood Capital's four-star, environmentally friendly luxury hotel, which will combine environmentally sustainable architecture and interior design with impeccable service and luxurious comfort. An interior design firm will be selected shortly.
"We are extremely pleased to be partnering with Toll Brothers to build one of the most exciting new developments in New York City in many years," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group. "With its incredible views of the Manhattan skyline and the iconic Brooklyn Bridge, extraordinary amenities, attractive and affordable location, and close proximity to transportation hubs, Brooklyn Bridge Park is the perfect location to showcase the 1 Hotel and adjoining residences. This development will be perfectly positioned to take advantage of the significant renaissance occurring along the Brooklyn waterfront. We expect our restaurants, bars and large social catering space to be incredible destinations for both the community and Manhattan residents. We look forward to building an important showcase hotel and waterfront residence like no other project in the five New York City boroughs."
The residential component of the project will feature spacious condominiums with a townhouse feel, reminiscent of the brownstones found in many Brooklyn neighborhoods. All of the homes will feature spectacular views of lower Manhattan, the Brooklyn Bridge and New York Harbor. The condominiums, which will include the highest quality finishes, will offer residents over 12,000 square feet of amenity space including a state-of-the-art fitness center, children's playroom, and bike storage, in addition to preferred access to the 1 Hotel spa and services. This development represents the 20th project for Toll Brothers City Living in the New York City metro market since its entry in 2003.
"We are thrilled to be collaborating with such an accomplished company as Starwood Capital to continue the development of the Brooklyn waterfront," said Robert I. Toll, Executive Chairman of Toll Brothers, Inc. "This development is one of the most exciting new residential and hotel properties to be built in Brooklyn, and New York City overall, in a very long time. The location and views alone will ensure that it becomes a special piece of the NYC landscape for many decades to come."
The joint venture will enter into a 97-year ground lease of the site, which will require it to make ongoing payments to help fund the park's maintenance and operation as well as build restrooms, maintenance space, and landscaping for the park. Starwood Capital and Toll Brothers expect to break ground on the development by Summer 2013 and open the hotel and residential building in Fall 2015.
Source: PR Newswire (http://s.tt/1f4TA)
Created on: 06/21/12 | permalink Share this article: