A new, mixed-use hotel tower has topped-out just south of Koreatown, in Manhattan, at 292 Fifth Avenue. From developer Sam Chang, the property is his second Midtown hotel currently approaching its completion date.
Lower levels of the building will house 150 short-stay guestrooms that average about 325 square feet apiece. While the hotel tenant has not yet been confirmed, some reports claim the property will debut as a Le Meridien hotel following closure of the brand’s Midtown property in January 2018.
Hotel rooms will most likely be positioned on the second through 16th floors. Above, a collection of 16 residences will occupy the upper levels of the building. Private meeting rooms and an outdoor terrace separate the hotel and residential components at the 17th floor.
Future occupants will also have access to a restaurant, most likely positioned on the ground floor, as well as bike storage.
According to Gene Kaufman, the architect of record for 292 Fifth Avenue, the hotel is expected to debut in 2019 as a four-and-a-half star property.