Konichiwa to Muji

Here’s the rendering and more info.

A news flash about the Zen Palate site on Union Sqare East, and it’s decidedly downmarket:

“The Riese Organization just purchased 34 Union Square (between 15th and 16th), formerly home to Zen Palate and plans to install a TGI Friday’s and a bonus Tim Horton’s in the space. Its been vacant in the two years since Zen Palate vacated due to “astronomical and non-negotiable increases” in their rent, a rent that has dropped 40% in the last six months. Choice quote: “…while many chefs in the district purchase food from the popular green market there, T.G.I. Friday’s will not join them, says Mr. Riese. ‘We are not that type of restaurant…'” Indeed.

Just a note that the peanut butter cookies at Momofuku Milk Bar are seriously amazing.

Middle Eastern food, cooked on site, coming soon to 83 University Place. Visit eatnaya.com.

Hersha Hospitality Trust, owner of upscale and select service hotels in major metropolitan markets, announced that the Company has entered into a purchase and sale agreement to acquire the 175-room Hyatt Union Square hotel in New York City at 4th Ave and 13th Street for total consideration of $104.1 million, or approximately $595,000 per key. The transaction is expected to close shortly after the seller completes the hotel’s construction. The consideration to the seller consists of $36 million paid to the seller in cash, the cancellation by the Company of a $10 million development loan made to the seller, accrued interest on the loan and the assumption by the Company of two mortgage loans secured by the hotel in the original aggregate principal amount of $55 million. While this purchase and sale agreement secures the Company’s right to acquire the completed hotel, the Company is not assuming any construction risk, including the risk of schedule and cost overruns. The hotel is expected to open in 2012.

Next week (March 5 to March 9), Superstructure work will continue at 6th and 7th floor levels. Deliveries for the internal systems of the building have been ongoing and will continue, although they should not greatly affect the flow of pedestrian and road traffic.

The following week (March 12 to March 16), we will continue superstructure concrete and slabs on the 7th floor level.

This weekend the site will be open on Saturday, March 3rd for superstructure related activities between the work hours of 7AM and 5PM as permitted by the City. To control noise levels within the site, work activities will be limited to the placement of formwork and concrete, plumbing and electrical work, rebar for concrete placement, using the crane and equipment to support all activities. Safety horns are used, and required by law, to coordinate lifting with the crane and to alert the workers of the danger overhead. We have directed the operators to limit the use of horns to one short sounding and to use the crane later in the day so as to avoid any excess noise.

In addition to the normal work we will be having the boilers delivered to the site on Saturday along the 5th Ave. entrance to the site. The 14th St. Con Ed Vault utility connection street work will continue per DOT Permit granted for weekends only.