A new Le Meridien Hotel at 292 Fifth Avenue is expected to reach full completion in October 2020. The 187-key hotel topped out at 21 stories in 2019 and is one of the latest projects developed in collaboration by McSam Hotel Group and Gene Kaufman Architect.
Positioned as a dual hotel and residence, the short-stay guestrooms are located on floors two through 16 with residences positioned on floors 17 through 21. Private meeting rooms and an outdoor terrace separate the hotel and residential components on the 17th floor. Plans also mention the construction of a ground-floor restaurant and bike storage.
Compared to architectural renderings of the hotel, upper levels of the façade incorporate substantially more brown brick and less glass. The look and feel of the ground-floor elevation is obscured by scaffolding and construction nets.
Sam Chang, chairman of McSam Hotel Group, purchased the site for approximately $42.4 million in March 2017 and more recently commented that the development is his most expensive hotel to date. Considering the property’s location at the junction of NoMad and Koreatown, and the anticipated interiors, this statement is not a surprise.
While construction is expected to be completed this October, it is not clear if the hotel will also be open for business by that date.