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2 Hotels and a retail complex are coming to Times Square

Tuesday, 23 August 2011 14:17

Hotel Real Estate News NYC

The heart of the transformation will be a new 250 to 300-room hotel set to open in 2013 in the now-vacant lot at 136 W. 42nd St. DiamondRock Hospitality Company announced the deal, worth from $112.5 to $135 million, in a statement Tuesday.

The project is to contain at least 285 guest rooms, for which Diamond Rock would pay $128 million -- but the number could rise to 400 rooms, in which case the purchase price would swell to $178 million.

Meanwhile, right next door, the former Knickerbocker Hotel at 1466 Broadway,( http://archive.citylaw.org/lpc/113230.pdf )  also owned by Highgate,

 

 

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