Work Officially Starts on Northwest Tribeca Hotel

YIMBY reports that last Friday, “Caspi Development, Mactaggart Family & Partners, and Barone Management celebrated the official groundbreaking” of the 96-room hotel long planned for 456 Greenwich (at Desbrosses). That said, there was no evidence of work happening yesterday, when I took the above photo.

The amenities are said to include “six food and drinks spots,”—that’s certainly a lot, although Caspi’s website also notes that a private member club could be part of the plan—”interior courtyard measuring 1,500 square feet, spa, large fitness center, meeting space, rooftop pool and what’s being marketed as the largest screening room in Lower Manhattan. Paperwork has been signed with an anonymous international hotel operator, who will be announced in 2018. Stephen B. Jacobs Group is responsible for the architecture, and Martin Brudnizki is responsible for interior designs.” Brudnizki also did the Beekman hotel and Sessanta restaurant.

In a comment, Nancy says that she has heard that the hotel will have a “high-end bourbon/whiskey bar and a very high-end Japanese Wagyu steak house (famous in Osaka, I am told).” If I had a C-note for every time a Japanese steakhouse was said to be opening here…. Then again, the one that was said to be interested in the former Nobu space might have landed at this hotel instead.

UPDATE 12/28: Here’s the press release about it, better late than never.

A partnership between Caspi Development, Mactaggart Family & Partners LP and Barone Management LLC celebrated the official ground breaking today of their new project, an eight-story, 94,000-square-foot luxury hotel located in the heart of the Tribeca North Historic District at 456 Greenwich Street.

The new hotel—scheduled to open in 2020—runs the entire length of Desbrosses Street between Greenwich and Washington Streets, one block east of the Hudson River. The luxury offering will feature: 96 opulently appointed guestrooms and suites; six full-service food and beverage venues; a 1,500-square-foot interior courtyard; a lavish, decadent, full-service spa; meeting space; and the largest screening room in Lower Manhattan.

Plans also call for an oversized gym, guest-only rooftop day pool, and the possibility of a private member club.

Ownership has signed an agreement with an international hotel operator, with a formal announcement to follow in 2018.

The location for this new project was a key for all of the partners, as Tribeca has seen an incredible demand for luxury hotels as a complement to the office, retail, and residential explosion in the area.

“Combining its historic roots with an extraordinary influx of development and investment, Tribeca continues to be one of the most charming and sought-after neighborhoods in the entire city,” said Joshua Caspi, Principal of Caspi Development. “I want to thank Mactaggart Family & Partners and Barone Management, as together we officially begin construction of 456 Greenwich, adding an exciting ultra-luxury hotel to a remarkable neighborhood.”

“We are very excited to be breaking ground today on what will hopefully be one of New York’s landmark five-star hotels,” said Ivaylo Ninov, Managing Director of Mactaggart Family & Partners LP. “We saw a gap in the ultra-luxury hotel space market, both from a location and programming point of view. We are fortunate that we had the opportunity to acquire one of the premier development sites downtown.”

AECOM Tishman is handling construction management for 456 Greenwich Street, while Lehrer LLC is serving as the owner’s advisor. AECOM Tishman most recently delivered the Baccarat Hotel & Residences on West 53rd Street, the Four Seasons hotel in Lower Manhattan, while members of the Lehrer team worked on the Baccarat and the Four Seasons Surf Club in Miami, FL.


  1. Perhaps I’m being a churl, but the design of this building strikes me as nothing but an attempt to skirt the wrath of preservationists. It’s so bereft of imagination that I find it an insult to building, to progress, to civilization. We all know the basic Vitruvian precepts considered fundamental to architecture: firmness, commodity and delight. Show me the delight here. Perhaps this hurts my eyes so much because I’m currently writing from Japan, where even the most modest new architecture makes some kind of attempt to be handsome, life-affirming, even joyful. In short it tries to contribute to the conversation instead of being a self-satisfied slab slash cash register (to use an obsolete metaphor). What a monumental disappointment. I apologize if this is read as negativity, but thanks for allowing me my say.

    • There are a whole bunch of legal land use restrictions they must satisfy. Manufacturing zoning and the variance process leads to hotel use. Landmarks has its own aesthetic criteria to meet before issuing permits.

      As the NYT article on the subways and similar stories illustrate, the cost of construction labor, regulatory compliance, and DoB delays is nuts in New York. That is why ambitious designs get watered down from rendering to reality, e.g., Jenga building, The White Elephant a/k/a Oculus, etc.