Hyatt’s New Hotel—Park Hyatt New York

November 02, 2010 / Elizabeth Buckley, Commercial Property Analyst

Extell Development Corporation and Hyatt Hotels Corporation made public today a new hotel in New York that is to be constructed under the celebrated Park Hyatt luxury trade name. The new hotel will be designed by architect Christian de Portzamparc, a Pritzker Prize winner. An Extell and Hyatt branch have created a mutual venture, which will attain the new hotel after its completion that is subject to the achievement of particular contractual target.

Hyatt’s New Hotel—Park Hyatt New York

Hyatt’s international head of development and real estate, Steve Haggerty said that New York is one of world’s supreme financial, cultural, and business centers and is a common destination for Park Hyatt visitors.

Haggerty also said that Hyatt is very pleased to bring a new hotel under Park Hyatt’s minimalist and modern sophistication brand to Manhattan.

Hyatt’s new hotel, Park Hyatt New York will be situated 157 West 57th Street, across the famous Carnegie Hall.

The new hotel’s construction is expected to be completed by 2012, and would be a branch of a 90-story multi-purpose building, which will also include 135 luxury condominiums designed by Thomas Juul-Hansen with the spectacular view of New York’s skyline and the Central Park.

Extell’s President Gary Barnett said that his company is thrilled to create a future attraction in New York’s cultural center, which will become a beacon for tourists around the world, and as a home to several of New York’s most impressive residences.

The first-class new hotel will mirror Park Hyatt’s personal and simple elegance, its interiors will be designed by Yabu Pushelberg, a design firm.

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