The redevelopment of the Battery Maritime Building at 10 South Street into a luxury hotel and high-end rooftop restaurant with a restored Great Hall event space now appears on track following years of development hell. A cash infusion in August from Midtown Equities allowed Centaur Properties (the developer of the McKittrick Hotel for Punchdrunk’s Sleep No More) and Cipriani to resume construction this past fall with an anticipated completion date now of summer 2020, maybe spring if they’re lucky. The Dermot Company was previously tapped by the City to undertake the redevelopment but later thrown off the project. At the time Dermot had completed about 60% of the work including brand development working with ICRAVE and Abby Mills for what was to be the “Hotel Leviathan” as depicted in the above pictures.
Just a few blocks north of the BMB, New York-based luxury hospitality and retail developer Actium
These developments represent just a fraction of the more than 1,800 hotel rooms Lower Manhattan has in the pipeline. Still, with more than 15 million visitors a year (#22 most visited tourist destination in the world), demand for hotel rooms in the Financial District isn’t showing signs of slowing down. As New York City continues its campaign against illegal Airbnb listings, that demand seems likely to increase.