UPDATE: It's now been confirmed that Extell is partnering with Hard Rock on a 445-room hotel set to rise on West 48th Street between Avenue of the Americas and Seventh Avenue, also known as Music Row. Representatives for both organization confirmed the news, which the New York Post had speculated on Sunday, at a press conference held at Hard Rock Cafe in Times Square.
"We're in the middle of a strategic shift and looking more aggressively for hotel and casino opportunities," the CEO at Hard Rock International, said at the conference. "Gary [Extell chief] is an expert in hotel development, and from our perspective this is a great collaboration. In terms of our branding, staying in the Times Square makes the most sense."
The new hotel will include tons of memorabilia from contemporary and iconic musicians. Some of the other features of the hotel include a lobby lounge, restaurant, and bar, a rooftop lounge, and an underground speakeasy.
News emerged last week that the Hard Rock brand would make a major real estate announcement on Monday, and publications have since started speculating on the site of what is expected to be the city's first Hard Rock Hotel.
Hard Rock is partnering with Extell Development Company on the project, and Crain's speculated last week that it might be a site on Eighth Avenue between West 45th and 46th Streets.
On Sunday, the New York Post printed an exact address — 159 West 48th Street, currently home to a seven-story garage. That section of West 48th Street, between the Avenue of the Americas and Seventh Avenue, is also fittingly known as Music Row. The last of the music shops on the street shuttered down last year, and according to the Post, Hard Rock wants to recreate that atmosphere on the street.
For Extell, this is just the latest sign of the company's expanding real estate empire in Midtown. Apart from Central Park Tower, there's also speculation about a giant shopping mall on Fifth Avenue between West 46th and 47th Streets.
Representatives for Hard Rock and Extell have declined to comment on the development just yet, but the group is set to unveil details about the project at an event this afternoon. Curbed will be in attendance, so check back later in the day for updates.