Starwood's Crystal Vision | Baccarat Hotels and Resorts to open Manhattan Hotel in 2014 | wsj.com
Trying to tap into Manhattan's hot market for luxury apartments and high-end hotels, Starwood Capital Group's Baccarat Hotels and Resorts is launching a plan to develop a project across from the Museum of Modern Art. The $403 million development will include 115 hotel rooms with some rates that Starwood said will exceed $800 a night and 64 residences that the real-estate investor hopes will be among the city's most expensive on a square-foot basis.
