DPW resumes construction on hotel project in Tribeca

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DPW Holdings says that construction has resumed on the Tribeca Hotel at 456 Greenwich St. in New York City.

The company is a limited partner in the Tribeca Hotel development project. On June 8, Gov. Cuomo announced that construction can resume in New York City, including projects considered non-essential, lifting restrictions previously implemented due to the COVID-19 pandemic.

The eight-story, 93,900-sq.-ft. hotel will consist of 96 guest rooms and suites, several restaurants with a private members bar, a 1,500-sq.-ft. interior courtyard, a spa, a swimming pool, meeting space and a 100+ person screening room.

The 5-star hotel is slated to open in June 2022 under the operation of the premier hospitality group, Groupe Lucien Barrière, of Hôtel Barrière Le Fouquet’s Paris. The development project has secured a $145 million construction loan commitment from Hana Financial Investment of Hana Financial Group.

Westchester-based Caspi Development leads the hotel construction project.

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