Recession Aggression! Hotel Planned for Ninth and 42nd

577ninthavenue Recession Aggression! Hotel Planned for Ninth and 42nd Ever the congenital optimists, developers are apparently taking the recent lukewarm economic indicators as the sign to get going on new developments.

One is planning to build a 38-story hotel at the corner of Ninth Avenue and 42nd Street, according to city records.

On June 3, Bernard Friedman, a partner in a development company called 400 Times Square Associates LLC, filed plans to build a 170,048-square-foot tower at 577 Ninth Avenue.

Mr. Friedman, of Penmark Realty Corp. (founded by Friedman Management Company), did not respond to multiple requests for comment. But the plans call for retail on the cellar and first and second floors; hotel rooms on floors 4 through 27; a hotel bar and pool on floor 29; and apartments on the remaining top floors.

Perhaps denizens of the nearby New York Times headquarters and the Port Authority bus terminal will drop by for swims.

drubinstein@observer.com