Ark Partners Announces Development of New Hotel

NEW YORK, Sept. 15 /PRNewswire/ -- Ark Partners today announced the commencement of construction of a new hotel development located just off Sixth Avenue at 120 West 57th Street in New York City. This new Midtown Manhattan project is being designed and built from the ground up as a luxury lifestyle hotel with full-service amenities for business and leisure travelers. This new hotel, which is slated to open in 2013, will mark Ark's eighth hotel investment since 2002.  

"In a time when new developments are uncommon in Manhattan, we are beginning construction of what we know will be an exciting new hotel that will take its place among an elite group in the city," said Ark President John Yoon. "This hotel will be a spectacular addition to the 57th Street corridor, Carnegie Hall and the extended Columbus Circle neighborhood, with design and decor elements that evoke classic New York style and an enhanced focus on upscale lifestyle amenities."

Designed by Roman and Williams, the renowned New York firm, the new 30-story, approximately 130,000-square-foot building will feature a grand, double-height ground-floor lobby that includes a glamorous restaurant and bar, and 250 guest rooms including 46 luxurious suites, of which approximately half will have Central Park-facing views. The hotel is situated in an extraordinary location on 57th Street, near storied Manhattan sites including Bergdorf Goodman, Tiffany & Co., Carnegie Hall and other important landmarks.

"We are absolutely thrilled to be announcing this development," said Ark's Chairman and CEO Brad Reiss.  "This project was negotiated in 2007 and closed in 2008 in anticipation of an economic crash and probable illiquidity in the debt markets, therefore suggesting to us a likely reduction of projected hotel supply for New York City.  We are confident that our timing could not be better, and we are fully prepared to introduce a luxurious lifestyle hotel that accents the prime location in which it sits."  

Roman and Williams has designed a building whose disciplined and reductive architecture gives it structure and clarity when viewed from afar and from the street.  The facade is defined by two muscular shoulders – made of iron-spot black brick – that define, frame and ground the building's front elevation. Glazed black brick and metal windows – muntined to create the feeling of a beautiful lantern when lit from within – comprise the bulk of the facade. These windows will relate the new hotel to much of the traditional, iconic architecture in the neighborhood.

Guest room and public area designs will feature rich woods, understated yet grand decor elements, and a nod to Mid-Century-Modern design. The material palette is restrained, earthy and sensual in the common areas of the hotel, and guest rooms have a functionality and airiness of a loft with simple, functional and well-detailed furnishings.

The bathrooms are inspired by those in classic 1930s New York apartment buildings, with marble and tile detailing and custom fittings.  With floor-to-ceiling windows, outdoor terraces, soaring high ceilings, sweeping views of Central Park from upper floors and a restaurant and bar under the helm of a to-be-announced noteworthy and acclaimed restaurateur, the new hotel will emerge at the forefront of bespoke upscale hotels in Manhattan.

Robin Standefer and Stephen Alesch of Roman and Williams have described their design for the hotel as being "reminiscent of a bygone era in hospitality that is absolutely befitting its location on this iconic street."

Among Roman and Williams' other current and recent successes are: the renovation of the Royalton Hotel, the Standard Hotel, and the Ace Hotel – including The Breslin restaurant and Stumptown Coffee Shop – all in New York City. Other current and completed projects include major residential projects in New York and Los Angeles, for Hollywood celebrities such as Ben and Christine Stiller, Kate Hudson, and Gwyneth Paltrow. The firm has also recently completed the renovation and expansion of one of Frank Lloyd Wright's important Usonian Houses, as well as its first ground-up residential building at 211 Elizabeth Street in NoLiTa.

Gene Kaufman Architect PC, who has a proven track record of timely delivery, on-budget projects, and space-maximizing designs, will serve as the building's architect of record. Hunter Roberts Construction Group has been selected as general contractor.

About Ark Partners:

Ark Partners is a real estate investment company founded in 2002 by Brad Reiss and John Yoon.  Ark engages in the acquisition, ownership, development, repositioning and management of a broad range of real estate in various national and international markets, including hotels in New York City, Washington D.C. and Quebec City Canada.  These hotels are managed Willow Hotels, an affiliate of Ark.  For more information visit www.arkpartners.com or www.willowhotels.com.

SOURCE Ark Partners