Starwood Capital Group and Toll Brothers Inc. are building a 550,000-square-foot hotel and condominium complex adjacent to Brooklyn Bridge Park in New York City.
Starwood Capital has its main office in Greenwich and Toll Brothers is based in Horsham, Pa.
With a planned opening for 2015, the 10-story Luxury 1 Hotel will have 200 rooms, with the companies also creating nearly 160 condos evocative of Brooklyn”™s brownstones.
The hotel will be located just south of Brooklyn”™s emerging DUMBO district adjacent to a park entrance at Pier 1, and will have views of the bridge, Manhattan, and the Statue of Liberty.
“This development will be perfectly positioned to take advantage of the significant renaissance occurring along the Brooklyn waterfront,” said Barry Sternlicht, CEO of Starwood Capital, in a prepared statement. “We look forward to building an important showcase hotel and waterfront residence like no other project in the five New York City boroughs.”
