PXThis.com has a bunch of construction shots of the new hotel, which is being built out of a former SRO building, and which will cater to the NYU crowd. So think of it as somewhere in between The Bowery and The Jane.
There will of course be a restaurant and bar and rooms should be somewhere between $200 and $300. Indeed the hotel's website is already advertising "early bookings" for $195 a night. The website also says the hotel will open in Summer 2013 but as excited as we are for this, we don't think that's gonna happen. UPDATE: The hotel's rep tell us a September 1 opening date is set.
Correction: Previously, we stated that Sean MacPherson's partner Eric Goode was involved. It's actually just Sean Mac who's involved in this one.