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57th Street Is About To Get Yet Another Hotel-Condo Tower

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Brace yourselves, folks: another condo-hotel tower is going to rise on Billionaires Row. Only yesterday it was revealed that Extell sold the undeveloped lot at 16 West 57th Street near Fifth Avenue for $95 million. Turns out the buyers are an aggregate of Brazilian developers who will bring their vision of a hotel-condo building to the site—and theirs will be not just any hotel-condo building. This hotel-condo building may, just may be designed by Rafael Viñoly and will carry the Fasano family brand, who NYDN refers to as "the first family of Brazilian cuisine." The Fasanos have already established a ritzy restaurant and hotel empire across Brazil and other locales, so it's safe to assume that the establishment will be as "extremely, extremely elegant" as it's already being billed. Sounds like that new "seven-star hotel" coming to the nearby former Rizzoli Bookstore site has some stiff (and elegant) competition.

The Fasanos are partnering with construction company JHSF Participacoes S.A., and a few unannounced others. The site allows for a tower larger than 100,000-square-feet—by comparison, One 57 covers 1,493,514 square feet according to DOB records—so it won't be the tallest kid on the corridor. The tower is the Fasano's second New York City project. They're also developing a 14-story residential building at 815 Park Avenue at East 63rd Street.
· Brazilian investors set to bring famed South American hotel brand, condos to crowded 57th St. corridor [NYDN]
· Extell sells site that triggered legal tangle with Sheldon Solow [TRD]