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A possible redevelopment of the Manhattan at Times Square Hotel, located at 790 7th Ave

Qatari investment company secures $503M in loans for 3 hotels

“Our strategy is focused on increasing the value of our hotel portfolio by improving operational efficiency and quality of service while enhancing and developing the properties we acquire to optimize and build new revenue streams,” said Tarek M. El Sayed, managing director and CEO of the Al Rayyan Tourism Investment Company (ARTIC), in a statement. “The refinancing announced today reflects the quality of our asset base and further reduces our financing costs as we execute on that strategy.”

[...]

Among other plans, the investment company is finalizing plans for a mixed-use tower to take the place of the current Manhattan at Times Square Hotel. Once redeveloped, the nearly 1,500-foot-tall building will include 250 hotel rooms and 150 condominium residences. ARTIC will continue to operate the hotel on an as-is basis while the plans are in development.



concept design dated back to 2014: http://www.studiodror.com/for/790-seventh-avenue/



 

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^^ It must've slipped under the radar last August. We know the site can accommodate a supertall, and presumbly, it's still in the works. Less than a year doesn't mean much for development plans, especially if the property still earns money. An example of this is Hotel Penn, which is supposed to be razed for an office tower some day. Plans were revealed years ago, but the hotel is still operating.
 
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