Commune Hotels & Resorts, the joint venture company created last year between lifestyle operators Thompson Hotels and Joie de Vivre, has been chosen to manage New York City’s historic 5 Beekman Street building.
The building is currently vacant and was purchased on Monday by GB Lodging, New York City, from Chetrit Group and Bonjour Capital. The amount of the transaction was not disclosed.
The building, also called the Temple Court, is located adjacent to City Hall Park and will undergo a refurbishment and is set to re-open in 2014 as a Thompson hotel. 5 Beekman Street, built in 1883, was modeled after the famous Eponymous Barristers’ building in London and was the first tall fireproof structure in New York City featuring a 10-story atrium with ornate iron railings, glass skylight and elevators.
“We are delighted that Commune Hotels & Resorts has been selected by GB Lodging to operate a Thompson hotel in New York,” said Stephen Brandman, Commune Hotels & Resorts CEO.
Hotelier André Balazs was reportedly set to buy the hotel recently but the deal fell through and Balazs lost a US$5 million deposit.