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A New Luxury Hotel will Take Over the Pan American Magazine Building

Where: 1150 Avenue of the Americas [map], New York, NY, United States
February 27, 2014 at 11:08 AM | by | ()

Morris Moinian's Fortuna Realty may already have their hands full developing both the new Hotel Hugo and the Aloft New York Midtown (not to mention dealing with their neighbors), but in an article (we almost missed) at Hotels magazine he reveals details of another project in the works.

Fortuna have acquired the 100-year-old Pan American Magazine Building between 44th and 45th on Sixth Avenue: "on one of the best corners of the world," according to Moinian, and, fun fact, part of the reason Sixth Avenue was renamed Avenue of the Americas.

We have collected air rights and are preparing to design and build a 40- to 50-story tower with a 400-room luxury hotel. The brand direction is unknown, but we will likely work with a well-known brand.

Another luxury hotel? That's getting to be quite a busy loop around Bryant Park now, with the Bryant Park Hotel nearby, as well as this hotel/condo building in development.

[Photos: Karen Gardiner for HotelChatter]

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