Stop us if you've heard this one before. The former Donnell Library on West 53rd Street in NYC is about to turn into a hotel. Oh wait, you have heard this one before.
We've been waiting for Orient-Express Hotels to work their hotel magic on this building since 2007 but thanks to the crappy economy, nothing has ever materialized. Indeed, Orient-Express even tried to back out of the deal but the New York Public Library system wouldn't budge. (You go, girl!)
Now Orient-Express is looking to sell the property to developers Tribeca Associates, who also did the Smyth Hotel in a partnership with Starwood Hotels. The NY Times reports:
[T]he companies plan to build a $400 million building that would include both hotel rooms and condominium units.
However, the hotel/condo building will have to include a space for a library which was part of the original deal that the library struck with Orient-Express. The space has to be the same size and delivered within the same time frame which can be no later than June 30, 2014.
If the sale does go through, at least we know the opening date?
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