Hidrock Buys $28M Site Near WTC With Plans For $70M Hotel

Law360, New York (April 11, 2012, 7:57 PM EDT) -- Commercial real estate investor Hidrock Realty Inc. has acquired a vacant lot in downtown Manhattan near the World Trade Center site, where it plans to build a $70 million hotel, Hidrock announced Wednesday.

The planned 28-story, 300-room hotel is slated to open early in 2015, according to Manhattan-based Hidrock's Wednesday statement.

Privately owned Hidrock purchased the lot, 133 Greenwich St., for $27.9 million through a joint venture with the Robert Finvarb Cos., a Miami-based real estate development group that has built nine hotels for Marriott International...
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