Public Hotel

A NYCRC-managed entity provided a $79.5 million loan to help fund the construction of a hotel and residential complex on Chrystie Street in Manhattan’s Lower East Side.

The capital was loaned to a joint venture affiliate of the Ian Schrager Company and the Witkoff Group and facilitated the construction of a 28-story, approximately 255,000 square foot mixed-use commercial building that includes The Public Hotel as well as residential condominium units. The development is part of the continued revitalization of Manhattan’s Lower East Side.