Silverstein Properties is planning to erect a 60-story mixed-use tower at 99 Church Street just to the west of the Woolworth Building at 233 Broadway.

A spokesperson for the developer at Howard J. Rubenstein Associates confirmed for CityRealty.com this morning a report by Lauren Elkies in yesterday's edition of The Real Deal that the project will include a "boutique" hotel on the lower 20 floors below condominium apartments.

The spokesperson said no details were available about the architect for the project and what it might look like and how close its tower will be to tower of the Woolworth Building, which is set back and rises on the east side of its side.

Plans by Steve Witkoff and Cammeby's International for a residential conversion of the upper floors of the Woolworth Building, one of New York City's most important landmarks, have been in limbo for quite a while and some of its views to the southwest have been blocked by a new rental, 56-story apartment tower nearing completion at 10 Barclay Street that is being development by Glenwood Management of which Leonard Litwin is a principal.

Silverstein Properties and the California State Teachers' Retirement System acquired the 11-story office building at 99 Church Street last fall from Moody's Corporation for about $170 million. Moody's is planning to relocate its headquarters into 7 World Trade Center, the recently completed 52-story office tower designed by Skidmore, Owings & Merrill for Silverstein Properties, which is also planning to build several of the office towers planned for the redevelopment of Ground Zero nearby.

The article in The Real Deal quoted Lisa Silverstein, vice president of Silverstein Properties, as stating that a luxury hotel at the site was logical because "there's zero competition." The article also stated that Ms. Silverstein believed there will be demand for high-end condos in Lower Manhattan because "she recently looked for just such a property in the area and failed to fine one," adding that "I realized there are just no grand Park Avenue apartments downtown, and I'd like to create that."

An article by David Lombino in the December 22, 2006 edition of The New York Sun maintained that "Mr. Silverstein said it was likely the [Moody's building would be razed to make way for a 58-story residential tower."

The Moody's building was erected in 1951 and contains about 300,000 square feet of office space. It has frontages on Church and Barclay Streets and Park Place.