May 17, 2013
By Kismet Barksdale
New York, NY – Silverstein Properties is planning to construct a skyscraper at 30 Park Place in Tribeca that will include a Four Seasons hotel and Private Residences. At 926 feet, the property will be the tallest residential tower in Downtown Manhattan and one of the tallest buildings in New York City, offering residents panoramic views of the Midtown skyline and New York Harbor.
Construction will begin on the 82-story tower in Fall 2013 with the grand opening set for 2016.
Financing for the $950 million project was provided by The Children’s Investment Fund Management (UK) LLP through a loan of up to $660 million to owners Silverstein Properties and CalSTRS.
Located at Park Place and Church Street in Tribeca, Four Seasons Hotel and Private Residences New York, Downtown will incorporate a 185-room Four Seasons-operated luxury hotel as well as 157 Four Seasons branded luxury private residences.
“The day it opens, the Four Seasons Hotel New York Downtown will be the top hotel and apartment building in Lower Manhattan,” said Larry A. Silverstein, President and CEO of Silverstein Properties, Inc.