This is the location for Site 3 of the ESC with a possible elevation around 930 feet.
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This is a beautiful building. I’m in no rush to see it razed.
Ugh. I stayed at the Stewart Hotel multiple times and it has always been nothing but a good experience. I will miss it profoundly.
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This is great news. I was afraid it would go in the big Penn makeover.
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It still might one day, if “Penn South” is still the preferred station expansion plan.
But it says something that they’re proceeding with this renovation- probably that they think they’ll still be around for at least another decade.
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A partnership between multifamily developer-operator Slate Property Group and Breaking Group, an organization that provides permanent supportive housing for individuals in need, is in late-stage talks to acquire Manhattan’s Stewart Hotel from Sioni Group and Patriarch Equities for around $275 million, with plans to convert the property to 535 units of permanent affordable housing.
Slate and Breaking Ground would be co-developers on the project.
The Stewart, at 371 Seventh Avenue on the corner of 31st Street, closed as a working hotel in 2022, and was recently used by the city as a migrant shelter.