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Excavation is going full-bore at the former (and future) Donnell Library site, currently a gaping hole in one of Midtown’s most glamorous blocks. The New York Public Library will have 29,000 square feet on the new tower’s lower floors to replace its old branch. The NYPL planned to sell the property to Orient-Express Hotels, which in turn sold the purchase contract to Starwood Capital last year. The project is to open in 2014.
No rendering is available. The developers have declined to identify the new hotel. But five weeks ago, we wrote the “smart money” was on Baccarat, a brand linked to the fabled crystal house and to which Starwood Capital’s SH Group holds the license.
Over the weekend, industry blogger Andrew Calvo wrote that the Baccarat name just popped up on Starwood Capital’s website next to a March 2011 press release about the then-unidentified project — so our call was “confirmed,” Calvo said.
Source: New York Post