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Ace Hotel NOT involved in 54 Canal Street Development


Despite reports that the Ace Hotel, the Seattle-based hotel chain that has become a darling of Midtown South entrepreneurial sorts in need of a nosh and a WiFi signal, was in plans to open up a new hotel at 54 Canal Street, the group told The Commercial Observer that it was not involved in the project in any way.

ace hotel window 500x333 Ace Hotel NOT involved in 54 Canal Street DevelopmentA spokesman for The Ace Hotel, which already has a Midtown South location, said that the firm had “no involvement” in the redevelopment of the Jarmulowsky Bank Building. Earlier today the Bowery Boogie, a Lower East Side blog, claimed that the hip hotel chain was going to open a new outpost there. 

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Rumors that Freemans Restaurant, a popular and hip Lower East Side dining and drinking den, was also involved in developing something at 54 Canal Street were also refuted.

“Freemans is not doing this project,” said Eden Grimaldi, a spokesperson for Freemans.

It is unclear if the building, which was bought by DLJ Real Estate Partners from Equity Management for $36 million earlier this year, will be turned into a hotel or something similar.

Architectural firm Studio Castellano is working on the new development, according to city Department of Building permits. An employee for Studio Castellano declined to comment on the project when reached by phone.

DLJ Real Estate Partners did not immediately return a request for comment.