NEW YORK CITY-Baccarat Hotels and Resorts, owned by StarwoodCapital Group, is planning to develop a $403-million project on theother side of the Museum of Modern Art. The project will comprise115 hotel rooms and 64 residences.
The new hotel will feature a boutique store and Baccaratchandeliers. Starwood and its partners will be putting nearly $161million of equity into the hotel project. The company purchased therights to the site from Orient Express. For the full story, goto Wall Street Journal .
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