121
NEW YORK CITY — West 37th Street Owner LLC and Stonebridge Realty Advisors have formed a joint venture for the development of a 220-room hotel in New York City. The project will be located on West 37th Street between 8th and 9th avenues. Current plans call for either a boutique hotel or a primary brand of select service hotel. The project cost is expected to be $90 million. HREC Investment Advisors negotiated the joint venture agreement.