170 Broadway, New York

Adaptive Reuse of Office into a Select Service Hotel with Flagship Retail

 

Tribeca Associates in partnership with the Carlyle Group acquired the fully leased 17-story office tower located in the heart of the financial district on the corner of Broadway & Maiden Lane in 2012. With the recent unprecedented amount of re-development in lower Manhattan, the team recognized that the highest and best use for the property was to convert it into a select service, mixed-use development containing The Marriott Residence Inn World Trade Center with flagship retail at the base. The property’s close proximity to the World Trade Center and the 9/11 Memorial, as well as the increasing office and tourism demand, made this building a unique acquisition candidate.