Latest New School Construction Update

Bar Bacon will soon open in the space on the east side of 4th Ave. between 12th and 13th formerly occupied by Royal Bar. So if you like bacon….

The Times has an article about the arcane and contradictory rules governing what can and can’t be sold in the Union Square farmer’s market. Bottom line: it’s a mess.

The Greenwich Village Society for Historic Preservation reports:

At a meeting for affected property owners last night, the Landmarks Preservation Commission unveiled two small study areas for potential proposed historic districts in the East Village — one on Tompkins Square North and one centered along Second Avenue between Houston St. and St. Marks. This is a preliminary step in their consideration of these districts; the next step will be a public presentation and hearing before Community Board #3’s Landmarks Subcommittee on Thursday, May 12 at 6 pm at BRC, 30 Delancey Street, btw. Chrystie and Forsyth Streets.

A fascinating photo of the good old days. The view is north up Union Square East to Park Ave. South, then known as 4th Avenue. Note that the George Washington statue used to reside at the intersection of 14th St. and 4th Ave.

The much delayed hotel going up at 13th and 4th will indeed be a Hyatt .

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.