The restoration of of the Jarmulowsky Bank Building at 54 Canal St. is a painstaking process. But the conversion of the city landmark to a boutique hotel is continuing. Last night, the project took another small step forward as Community Board 3’s transportation committee signed off on a plan to create a new sidewalk alongside the 12-story, 1912 tower.
Architect Ron Castellano is planning to replace the standard cement sidewalk with decorative glass tiles that will provide some light in the basement of the new hotel. You’ve probably seen similar bricks in Soho, along Broadway. Castellano said it’s necessary to rebuild the vaults, which are in very bad condition, so much of the foundation of the building is getting a makeover. He’ll be taking the proposal to the Public Design Commission along with other city agencies.
Castellano and restauranteur Taavo Somer are handling the restoration for the building owners, DLJ Real Estate Capital Partners. Last month, William Helm, the firm’s vice president, told the Real Deal the 105 room hotel is expected to open in late 2014. We first broke news of the hotel project last summer. The Landmarks Preservation Commission approved Castellano’s plan in December.
