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Ian Schrager, the hotelier, and Aby Rosen, the developer, are reported to have commissioned Herzog & de Meuron to design a 10-story, glass-clad, mid-block at 40 Bond Street with 30 loft condominium apartments, five townhouses and a three-room hotel.

The site, a former parking lot that has been cleared, is east of Lafayette Street.

According to the Triple Mint website, the Swiss architects, who have won the Pritzker Prize, will "re-imagine the classic cast iron building - only without the iron," adding that "the entire facade will be fashioned from glass pieces made in Barcelona."

Herzog & de Meuron are most famous for their redesign of a powerplant in London into the Tate Modern Museum, their plans for the main stadium for the Olympic Games in Beijing, China, and work for the Walker Art Center in Minneapolis, the de Young Museum in San Francisco and the Jack S. Blanton Museum of Art in Austin, Texas.

Mr. Schrager and Mr. Rosen are partners in the 50 Gramercy Square Park North redevelopment.

In 2003, Mr. Schrager had planned a hotel for this site with Richard Born and Ira Drucker but changed plans for a 14-story, 65-unit residential building designed by Gary Handel.
Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.