NYC & Company reports that New York City is expected to have an inventory of 137,000 hotel rooms by the end of 2019, up 24,000 from this May. Midtown's Garment District has been leading the way in terms of hotel development, with dozens of inns opening over the last decade. Now, another hotel has begun construction in the area at 4 West 37th Street, near the corner of Fifth Avenue.
Named the Draper, the new 22-story tower will bring 120 rooms, a top-floor lounge and a typical array of hotel amenities to a site close to the Empire State Building, Herald Square and Bryant Park. Per The Real Deal, The Dallas-based State Bank of Texas acquired the pre-existing pair of six-story commercial buildings in 2014. Building permits filed soon after show Nobutaka Ashihara Architect is steering the design.
Named the Draper, the new 22-story tower will bring 120 rooms, a top-floor lounge and a typical array of hotel amenities to a site close to the Empire State Building, Herald Square and Bryant Park. Per The Real Deal, The Dallas-based State Bank of Texas acquired the pre-existing pair of six-story commercial buildings in 2014. Building permits filed soon after show Nobutaka Ashihara Architect is steering the design.
Google Earth aerial showing location The Draper; CItyRealty
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