September 20, 2012
By Dave Hogarty
In a swap that traded extended rent-regulation for residents of adjacent 10 Stanton Street, the Lower East Side’s Community Board 3 voted unanimously to approve the construction of the Chrystie Street Hotel—a 25-story hotel/condo complex at 215 Chrystie Street. Bowery Boogiereports that the first 18 stories will be a hotel by an operator to be named later and the remaining upper floors will be market rate residential units. 10 Stanton was voluntarily rent regulated, and residents struck a deal in favor of hotel construction on adjacent green space in exchange for 20 more years of affordable housing. Handel Architects is tasked with the design of the building that some neighbors are concerned will be too high for the area. Handel designed the Ritz-Carlton Battery Park and R-C Central Park, Chelsea’s Dream Hotel, and Trump Soho, as well as nearby 40 Bond Street.