57 Stories for Moinian and Shvo's Downtown W Condo-Hotel

Oh, so that downtown W Hotel: well now it’s officially official. A news release comes in declaring that the 123 Washington Street, Moinian-developed condo-hotel will be 57 stories and include 217 guest rooms and 222 residential units.

And those 222 residential units will be marketed by Michael Shvo, as The Observer reported last week.

The entire release, including quotes from Mr. Moinian, Mr. Shvo and a W official, after the jump.

- John Koblin

W Hotels Puts the “W” Back in Wall Street with W New York-Downtown Hotel & Residences
W Hotels’ Sixth Property in Manhattan Will Add Style and Substance to New York City’s Most Important Revitalization

WHITE PLAINS, N.Y.–Starwood Hotels & Resorts Worldwide Inc. announces the continued expansion of W Hotels with an agreement with New York-based real estate developer Moinian Group to operate the W New York-Downtown Hotel & Residences, a new luxury property in downtown Manhattan, featuring 217 guest rooms and 222 residential units. Located at 123 Washington Street, just one block from the site of the new Freedom Tower, the W New York-Downtown Hotel & Residences will mark the W brand’s arrival in New York City’s recently revitalized downtown area. The newly constructed building is anticipated to open in 2008, with residential sales expected to begin in mid-2007.

The W New York-Downtown Hotel & Residences is poised to serve the growing number of visitors and residents in lower Manhattan as it continues to transform itself into a premier 21st century business district and a vibrant residential community. Lower Manhattan is now the fastest growing residential market in the city, dedicating resources to improving its waterfront spaces, parks, schools, and cultural institutions, fostering the development of a more pedestrian-friendly environment.

As the first globally branded luxury hotel and residences project of its size and scale in downtown New York, the W New York-Downtown Hotel & Residences is the first W residential development in Manhattan. Adding breadth to the W brand’s New York City based portfolio, this new property joins five other W hotels in the Big Apple and further strengthens Starwood’s position as the largest hotel operator in New York City with twelve renowned hotels in Manhattan.

“W is deeply connected to Manhattan and we’re proud to be a part of this important project to revitalize this part of the City,” said Ross Klein, President of Starwood’s Luxury Brands Group. “W New York-Downtown will create a destination inside a destination, adding substance, style and luxury to Manhattan’s most anticipated new development.”

The 57-story building will offer all of the W signature comforts, including its Living Room experience where guests can socialize while sipping cocktails, and the Whatever/Whenever® 24-hour concierge service that can provide whatever guests want (from a bed covered in rose petals to private jet service) whenever they want it. Offering the ultimate urban lifestyle, residences will feature spectacular views of the city as well as state-of-the-art kitchen appliances and a sophisticated telecommunications infrastructure. Residents will enjoy all the services and amenities available to hotel guests, in addition to exclusive access to a residence-only lounge area, rooftop terrace with cabanas, and private spa treatment rooms. Both the hotel and residences will have dedicated full-service fitness centers.

Moinian Group, one of the nation’s top real estate developers, is the owner and developer of the project and Gwathmey Siegel & Associates Architects has been named design architect for the building. SHVO Marketing is handling exclusive marketing and sales for the property and will open the W New York-Downtown Residences Welcome Center by mid-2007 at 90 West Street, directly opposite the building’s construction site.

“This project will be a premier destination in downtown Manhattan because it brings both new visitors to the city and new residents to the neighborhood,” said Joseph Moinian, President & CEO of Moinian Group. “The W Hotels brand, and its sophisticated, well-traveled and savvy clientele, will help shape the cultural landscape of the area, making downtown New York City an even more desirable destination.”

Michael Shvo, President of SHVO Marketing, agrees. “This property offers an exceptional opportunity to live downtown,” said Mr. Shvo. “Few brands can match the lifestyle appeal of W Hotels, which immediately conveys a strong contemporary style and elevated taste-level to the buyer. As big believers in downtown New York City, we’re thrilled to be part of this project, and will create a dynamic, interactive sales experience for the W brand that will make buying at the W New York-Downtown Hotel & Residences a very easy decision.”

About W Hotels Worldwide

Since its debut in 1998, W Hotels has been a favorite of guests and developers alike and today is a global lifestyle brand with 21 properties in the most vibrant cities around the world. Inspiring and indulging its guests with thoughtful, refreshing and stylish experiences, signature restaurants, bars and destination spas, W has become the fastest-growing luxury hotel brand in the world. Each hotel offers a unique mix of innovative design, comfort and cultural influences from fashion to music to art and everything in between. W Austin Hotel & Residences will be the Brand’s second property in Texas, following the very successful W Dallas-Victory Hotel & Residences which opened earlier this year. Other recent openings include W Retreat & SpaSM – Maldives and W Seoul – Walkerhill. W has announced plans for new hotels in Philadelphia, Hollywood, South Beach, Phoenix, Scottsdale and Hoboken. Internationally, W has announced plans for hotels in Barcelona, Istanbul, Hong Kong, Shanghai, Santiago, Dubai, Doha and Koh Samui. For more information, visit http://www.whotels.com.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc.® is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood® Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Meridien® and the recently announced AloftSM and ElementSM Hotels. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit http://www.starwoodhotels.com.

About Moinian Group

The Moinian Group is widely regarded as one of the industry’s most active development firms, boasting a portfolio totaling more than 20 million square feet of commercial, industrial, residential, retail and hotel properties throughout the U.S. and abroad. Its extensive acquisitions include trophy buildings like the Downtown Club in lower Manhattan, formerly known as the Downtown Athletic Club and home to the Heisman Trophy, the Sears Tower in Chicago and Continental Towers at 180 Maiden Lane in Downtown Manhattan. The Moinian Group aims to transform long-underutilized areas into dynamic, transit-oriented urban centers by integrating a mix of medium- and high-density residential, commercial, entertainment and cultural land uses. Striving for excellence, it sustains its leadership in the industry with a focus on creating new environments in which to grow, work and live. For more information, please visit http://www.moiniangroup.com.

About SHVO

SHVO, a leader in residential real estate marketing, branding and sales, brings breakthrough concepts and partnerships to the luxury condominium market. The company’s recent projects in Manhattan have sent new standards for luxury residence marketing, design and living. Founded by Michael Shvo, the company’s unique strategic strengths, design and technological insights, and sales expertise have resulted in an impressive roster of prestigious clients and successful projects. The SHVO signature includes innovative marketing and sales campaigns that create the right lifestyle proposition for the right buyer. In addition to marketing numerous buildings throughout New York, SHVO is actively marketing luxury properties in other major U.S. cities, Europe, Asia and Mexico. For more information, please visit http://www.shvo.com.