New 266-room hotel in Manhattan secures $315 million construction loan

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Atalaya Capital Management recently secured a $315-million construction loan for The Ritz-Carlton’s new flagship hotel in Manhattan, ReBusinessOnline reports.

Situated at the corner of 28th St. and Broadway, the 266-room hotel will span more than 50 stories and include 16 branded residences, 6,000 sq. ft. of meeting space and high-end food and beverage options.

Construction of the hotel is set in late 2021.

The project team includes general contractor Lend Lease, interior designer Yabu Pushelberg and architect Rafael Vinoly.

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