Witkoff and its partners, along with Marriott International and Ian Schrager, celebrated the groundbreaking on October 27 of the highly anticipated, mixed-use development at 20 Times Square. The announcement was made by Steven Witkoff, Chairman and Chief Executive Officer of Witkoff.
Set to rise in the world-renowned Times Square bowtie at Duffy Square where 7th Avenue meets 47th Street, the 39-story, 452-room, luxury lifestyle EDITION branded Marriott International hotel will be the first hotel of this scale to be constructed in Times Square in more than two decades and the only five-star hotel in Times Square.
The hotel will also have 40,000 square feet of food and beverage with 6 bars, a cabaret/entertainment show venue, several restaurants and large outdoor food venues with direct views on Times Square. CNY Construction is serving as the construction manager for the development.
The mixed-use development will also include 76,000 square feet of retail space of varying sizes, with more than 200 feet of wraparound frontage on the bowtie and a 26-foot-tall glass storefront. Adjacent to the retail space and wrapping the corner will be a spectacular, 18,000-square-foot state-of-the-art LED sign, which will be one of the largest and most technologically advanced in the world and will top out at 120 feet off the ground.
“This will be the achievement of a shared vision to bring a luxury lifestyle hotel to the heart of Times Square along with an incomparable retail and sign space,” said Witkoff.
“20 Times Square offers retailers the unparalleled exposure of one of the highest profile locations in the world, with the potential to reach a daily foot traffic of 350,000 pedestrians. Anchoring the location is the 18,000-square-foot sign which will be an immediate icon on the world stage, incorporating the latest advances in high definition LED technology to deliver unrivaled brand awareness for an extraordinary commercial retail opportunity,” commented Witkoff.
“The hotel will offer the premier dining experience for which Ian Schrager is known, with exceptional food and beverage service, world-class cuisine, and a staff that is attentive and gracious.”
Ian Schrager, known for creating original luxury hotel concepts with a unique style and sophistication, has been leading the design process for the hotel as well as for the entertainment venues. Marriott International will manage the hotel under a long-term agreement among the parties. The EDITION hotel is scheduled to open in 2017.