34th Street

Real Estate

New Luxury Hotel Planned for District

Marriott Renaissance to plant its flag across from Penn Station and Madison Square Garden.

34th Street District, east of the Marriott Renaissance site.          Angelito Jusay Photography

The number of new hotel rooms in the 34th Street District has seen a dramatic rise in the past few years, indicating that developers and real estate pros see our neighborhood as a place in which to make substantial investments. Now, the announcement that Marriott Renaissance plans to build a 38-floor tower on 35th Street near Penn Station is another indication of the positive long-term outlook for the district.

Work has already begun on the hostelry, which will be part of the suite of properties that already includes DSW, Joe Fresh, and Top Shelf (Party City), and will traverse the block from 34th to 35th streets. 

Marriott International is partnering with a group of New York real estate families who have owned the property for nearly 30 years, on the project. Toni Stoeckl, Marriott VP for Luxury Brands, said that “the new four-star hotel will be the flagship location for the Renaissance brand, which caters to younger business travelers who favor technology, culture and music.” Stoeckl also added: "Our belief is that this is an up-and-coming area that is undergoing a fair amount of transformation."

Designer Jeffrey Beers, who recently worked on the $160 million renovation at the New York Palace, was hired to design the Renaissance hotel guest rooms and public spaces. Financing for the hotel component of the project was provided by Goldman Sachs. The hotel will have a 7,000-square-foot rooftop bar and restaurant, a gym, and banquet and conference facilities. The hotel will also feature eight top-floor suites specifically geared to attract artists performing at nearby Madison Square Garden.

With current projects underway in the Penn Station area and an ever-improving retail corridor stretching from Fifth Avenue to Eighth, the future of 34th Street has never looked better.

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