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Deals & Dealmakers

Rose plants extended stay flag at 70 Pine

Rose Associates and DTH Capital, the owners of 70 Pine Street, have selected Furnished Quarters to operate a hotel within the building.

Adam Rose
Adam Rose

Furnished Quarters will manage 132 extended stay hotel apartments on four floors of the 66-story, landmarked property that is being transformed into a full-service residential rental building.

The projected opening date for the hotel will be fall 2014. The units are full-sized apartments complete with kitchens, and will average 800 s/f — nearly three times the size of a standard New York hotel room.

Adam R. Rose, co-president of Rose Associates and developer of 70 Pine Street, said, “Furnished Quarters has long provided hospitality services to the financial, legal and media industries and 70 Pine’s future guests are certain to mirror the professionals within that demographic. Rose Associates has a long history with Furnished Quarters, and we look forward to continuing this relationship at 70 Pine.”

Furnished Quarters was founded in New York and is the largest provider of temporary furnished apartments in Manhattan,.

“We plan to introduce a fresh hospitality concept under an entirely new brand at 70 Pine Street,” said Steve Brown, co-founder of Furnished Quarters.
“This is a significant step in our evolution, and we’re excited to now offer our corporate clients and guests apartment-size lodging in New York City for stays that are less than 30 days.”

Rose is currently transforming 70 Pine Street into a mixed-use building with 644 rental apartments in studio, one-, two- and three-bedroom configurations.

The firm is marketing 35,000 s/f of retail space and the landmarked lobby, which will likely feature a restaurant and café, is being re-opened.
The building’s top four stories are being transformed into lounge and La Palestra will have 23,000 s/f of space off the building’s lobby.

Benjamin Noriega-Ortiz, the designer behind the Mondrian Hotels in SoHo and the upcoming Mondrian Baha Mar in the Bahamas, will collaborate with Furnished Quarters’ in-house design team on the creation of the extended stay hotel rooms.

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