Hotel Chatter reports that a converted 1913 Beaux-Arts building on Canal St and Orchard St will be transformed into a 130-room hotel. The building of interest is a 12-story landmark and was recently sold for $36 million, and reportedly attracted quite a few interested buyers—all keen on revamping the property into a hotel.
Canal St. connects the Lower East Side neighborhood with Tribeca and Greenwich Village, so it is sure to attract visitors seeking to be convenient to all of those areas. The building’s façade will likely be maintained as it is a neighborhood landmark and treasure.
Source: Hotel Chatter