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Cornell Tech Breaks Ground on Roosevelt Island Hotel
Construction has begun on a 224-key boutique hotel that will mark the completion of the first phase of development at the Cornell Tech campus on Roosevelt Island. Slated to open in spring 2020, the property will be run by Graduate Hotels, which specializes in the student market.
Cornell University and its partner AJ Capital Partners first announced plans for Graduate Roosevelt Island a year ago. It’s being designed by architectural firm Snohetta, and will be located in the heart of the campus alongside the Verizon Executive Education Center.
Fried Frank acted as counsel to Cornell in connection with the new hotel’s ground lease, financing and development. The law firm has advised Cornell on the Cornell Tech campus since the project’s inception. The Fried Frank team included real estate partner Tal Golomb, along with Ryan Bathie, Michael Hofer, David Firestone, Michael Turo and Gilmar Colonia.
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- ◦Development