Construction appears to be nearly done on the 19-story redevelopment project underway at 444 Park Avenue South, located on the corner of East 30th Street in Midtown South. The construction progress can be seen thanks to photos snapped by Tectonic. The former 13-story office building has been expanded by six stories and redeveloped into a 190-key SLS Hotel. It contains 86,973 square feet of commercial space, which means the hotel suites should average 458 square feet apiece. Hotel amenities include a restaurant on the ground floor, a fitness center, meeting rooms, and an outdoor lounge on the 14th floor. Moin Development and SBE are the developers. Nobutaka Ashihara’s Financial District-based architecture firm is behind the design. Opening is expected next spring.
444 Park Avenue South
Moin Development and SBE have received a $109 million loan for their planned SLS Hotel at 444 Park Avenue South, in NoMad, Commercial Observer reports. The former 14-story office building is being expanded to 20 stories and converted to 190 hotel rooms; multiple restaurants are also planned. Fortress Investment Group provided the loan, which recapitalizes and restructures existing debt. Completion is slated for Spring 2016.