The long-winded saga of 523 Greenwich Street might finally be coming to an end. First, the twisty 18-story condo never happened, then came the big F-you scare with talk of the lot going to a foreclosure auction. Now, The Observer reports that a 20-story hotel will be coming to the site, having been bought for $12.7M by Fortuna. Our friend Jonathan Miller adds "The highest and best use for this land is to develop a hospitality project—so, not surprisingly, a hotel developer emerged as the purchaser." The 124-room hotel is going to be neighbors with the Urban Glass House while boasting views of the Urban Trash House aka Tower o' Garbage. And what out of towner will be able to resist that?
· Greenwich Street Has New 20-Story Hotel Checking In [Observer]
· 523 Greenwich Street Coverage [Curbed]