With new funding, Starck-designed hotel to debut in 2016
Sbe announced it has secured $109 million in new financing with New York-based Fortress Investment Group for its long-delayed SLS New York hotel on Park Avenue. The company also said James Beard Award-winning chef José Andrés will open his first New York restaurant, The Bazaar, within the hotel.
Famed interior designer Philippe Starck, Manhattan-based equity partner Moin Development Corp. and sbe’s Dakota Development unit are teaming on the 190-key project, which is slated to open in the summer of next year.
Sbe, Sam Nazarian’s Los Angeles-based luxury hospitality and real estate development company, first unveiled plans for the hotel in 2012, with plans to open it late the following year. “We've always had exciting plans for this one of a kind property and we're delighted to have Fortress, José Andrés and Philippe Starck aboard as partners,” says Nazarian, sbe’s chairman and ceo. “With solid foundational partners like these, we fully expect to deliver an unparalleled experience for our guests when we open next summer.'”
The locale will feature an SBar lounge concept in the basement, as well as a rooftop lounge/event space.
SLS New York is one of 11 sbe projects in development or negotiation, including:
*SLS LUX at Baha Mar (2015)
*SLS Park Avenue New York (2016)
*SLS Hotel & Residences Brickell in Miami (2016)
*SLS LUX Hotel & Residences Brickell (2017)
*SLS Seattle (2017)
*SLS LUX Hotel & Residences Philadelphia (2017)
*Hyde Hotel & Residences Hollywood, Fla. (2017)
*Hyde Hotel & Residences Midtown Miami (2017)
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