New Midtown Hotel Dubbed "The Draper" Begins Construction

Rendering and site of forthcoming hotel at 4 West 37th Street; CItyRealty

Wednesday, May 31, 2017 By CityRealty Staff, CityRealty contributor

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.

Google Earth aerial showing location The Draper; CItyRealty

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New Midtown Hotel Dubbed "The Draper" Begins Construction

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Price Cuts: Sandie Tilotson&#039;s penthouse at Mandarin Oriental reduced by $15M; UWS brownstone with underground pool now 20% off

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Price Cuts: Sandie Tilotson's penthouse at Mandarin Oriental reduced by $15M; UWS brownstone with underground pool now 20% off

Rebound in Manhattan sales includes Harry Belafonte's UWS co-op, a $47M Central Park Tower aerie, and trophy deals in landmarks

Front & York: How DUMBO’s streets, bridges, and warehouses shaped its design