Ace Hotel Moves Forward with Its Faux Hostel at 225 Bowery
Three months after our exclusive report about the Ace Hotel project at 225 Bowery, another set of DOB permits is now on file for the conversion. This batch of paperwork, approved four days ago, reveals much more about the future of the ten-story building.
This new Ace Hotel is a joint venture with the North Wind Group and the Omnia Group; ND Architecture is listed as project designer. As previously reported, it’s a “faux-hostel” (dubbed “distilled service” in industry jargon) that’ll sport 178 keys, and house a bar/restaurant and retail on the ground level. Total floor area is 57,793 square-feet. Cost is estimated at a paltry $5 million.
The North Wind website provides the following description:
Gut renovation & redevelopment of a 62,000 Sq. Ft. vacant building into a 188 room Hotel in one of Manhattan’s trendiest neighborhoods.
The location on Bowery between Prince & Rivington serves as the intersection between SOHO, NOLITA, East Village and the Lower East side. This area once famous for its flophouses and brothels is rapidly transforming into a vibrant destination for young professionals seeking close proximity to the city’s hottest food and nightlife venues.
The Hotel will be branded, operated & managed by Ace Hotels, one of the hospitality industry most innovative operators.