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NY’s Temple Court to Become Boutique

(March 2012) posted on Tue Mar 20, 2012

Thompson to operate Beekman Street hotel

The historic Temple Court building at 5 Beekman Street in New York will reopen as a boutique hotel operated by Thompson Hotels, a unit Commune Hotels & Resorts. Plans to convert the 10-story, brick-and-terra cotta building into a luxury hotel were disclosed by its new owner, GB Lodging LLC.

“With its deep New York lifestyle hotel experience and growing international presence, we're delighted to have chosen Thompson Hotels, an operator uniquely suited to capture the building's inherent drama,” said Bruce Blum, president and co-founder of GB Lodging, an affiliate of GFI Capital, developer and owner the Ace and Nomad hotels in New York. “We relish the opportunity to transform this one-of-a-kind building and adjacent parcel into a 297 room luxury boutique hotel with 90 residences.”

The purchase price for 5 Beekman Street was not disclosed. The building, which originally opened in 1883, was modeled after the Eponymous Barristers’ building in London. It features a 10-story atrium with ornate iron railings and a glass skylight.

"We will pay homage to the history and grandeur of this iconic building and combine classic and modern design to create a vibrant community that will further enliven and rejuvenate the Financial District and downtown Manhattan,” said Jason Pomeranc, co-chairman of Commune Hotels & Resorts, a company formed last year by the merger of Thompson and Joie de Vivre.

A timetable for opening the property as a hotel has not been released. The building has sat vacant several years, and was at the center of a protracted legal battle between previous owners Chetrit Group and Bonjour Capital, according to published reports. Last year, the building was reported to be in contract to hotelier Andrew Balazs, but that deal ultimately fell through, according to The Real Deal, a web site that covers New York real estate news.


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