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Snapshot :: Vikram's Downtown Dream Hotel is (Ship)Shaping Up

Is what you see above: A) another nautical building sticking off the back of the Maritime Hotel?  B) a homeless shelter? Or is it C) Vikram Chatwal's $70 million dollar chunk of the Meatpacking District?

As is only proper in the business of building New York hotels, ALL THREE crazy statements are very true. The property at 346 West 17th Street, formerly The Covenant House homeless shelter, was purchased by Vikram's father's company Hampshire Hotels late last year.

Looking like The Maritime in drydock, the Downtown Dream so far has a gutted interior, a fully painted mud-grey exterior and construction that appears to be moving right along...for now.

According to Vikram's company website, his Downtown Dream is due to debut in early 2009, just in time to give The Maritime a run for its summer rush. And yes, just in case you need to hear it again, the Downtown Dream is right next to the Maritime Hotel so that should be a very interesting situation when it opens.