Paul Reisman of New Jersey-based Reisman Properties recently told The Observer that his company is breaking ground in August on a hotel on 125th Street.

“The hotel will run along Fifth Avenue from 125th to 126th Street,” Mr. Reisman said.

Although a flag has yet to be picked for the property, Mr. Reisman said that a number of very high-end chains are in the running. “Right now, who we go with is an open question,” he said. “But we are narrowing it down.”

The property will be designed by Handel Architects, an architecture firm whose clients include 40 Bond Street, the Trump Soho Hotel and the Ritz-Carlton, Downtown. Once completed, the hotel will be 19 stories tall and cover over 130,000 square-feet.

"There will be somewhere between 240 and 260 rooms in the hotel, and it will have 25,000 square feet of banquet and meeting space,” Mr. Reisman said.

He would not disclose the total cost for the development, but did say that it would “be north of $80 million.”

Mr. Reisman started Reisman Properties in 1979 with his brother, Steven. This will be the company’s first hotel project in New York City.