Schrager buys $50 million NYC site for Public hotel

US: 25-storey mixed-use development will include Public hotel

Ian Schrager, along with investors including developer Steve Witkoff, paid $50 million for the site at 215 Chrystie Street. Its plans for a 25-storey building include a hotel on the first 17 floors and residential on the remaining eight, totaling 376 keys.

The land was previously used as a garden for low-income tenants in a neighboring building, but a deal was reached to allow the mixed-use development to go ahead.

The nearby Sperone Westwater Gallery has hired a high-profile environmental lawyer to try and stop the hotel construction, claming the new building will block light into the gallery.

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