The Luxury Collection Set to Debut a New Hotel in Battery Park City, Enriching the Cultural Landscape of Lower Manhattan

Joint Venture to Open 298-Room Luxury Destination in 2027, Restoring Iconic Waterfront Landmark to Public Use

NEW YORK, NY, UNITED STATES, March 24, 2026 /EINPresswire.com/ -- Chestnut Street Holdings LLC, led by principal developers Charles Everhardt, Alpan Keskin and Nimrod Arad, in partnership with Charles Essig of Silver Creek Development, today announced a joint venture to develop a 298-room hotel under The Luxury Collection brand. Located at 2 Little West Street in Battery Park City, the project represents a major reinvestment in one of Lower Manhattan’s most prominent waterfront assets. HEI Hotels + Resorts has been retained to manage the hotel.

The 40-story building, which overlooks the Statue of Liberty and the New York Harbor, is currently undergoing a redevelopment supported by a construction budget exceeding $30 million. Scheduled to open in mid-2027, the hotel will feature multiple distinctive food and beverage venues, a state-of-the-art fitness center, and a world-class spa.

“We’re excited to see the redevelopment of this site move forward as part of The Marriott Luxury Collection portfolio, bringing new long-term investment to Battery Park City,” said Raju Mann, President & CEO of the Battery Park City Authority (BPCA). “With Wagner Park now reopened and major resiliency work underway, this project reflects the neighborhood’s continued momentum and confidence in its future.”

The project has been coordinated in close collaboration with the BPCA, labor leadership, and the Residential Board of Managers of Millennium Point Condominium. The residential board, representing the luxury units on the building’s upper floors, has expressed its support for the rebranding and reopening.

“The redevelopment of The Wagner Hotel will bring hundreds of family-sustaining union jobs back to New York City, while restoring the iconic property to its former glory,” said Richard Maroko, President of the New York City Hotel and Gaming Trades Council. “We’re proud to have worked closely with the Battery Park City Authority and other stakeholders to make sure this iconic hotel continues to be a world-class destination for both guests and workers.”

The reopening marks the first time since 2020 that the hotel and restaurant facilities at the site will be available to the public. Positioned adjacent to the newly reconditioned Wagner Park, the property is poised to regain its stature as a premier luxury destination within the New York City hospitality landscape.

“We’re thrilled to collaborate with Silver Creek Development and the developers including Charles Everhardt, Nimrod Arad, and Alpan Keskin, on this landmark project and to welcome it into The Luxury Collection portfolio. Situated in the iconic Battery Park neighborhood, the property is poised to deliver exceptional, one-of-a-kind luxury experiences for both guests and the local community.” said Lisa Sexton, Senior Vice President, Development, Full-Service Brands, U.S. & Canada at Marriott International.

“HEI is delighted to work with Chestnut Street and Silver Creek to bring back to life one of New York City’s most iconically located hotels for the benefit of all its many stakeholders. Based on HEI’s unmatched expertise with Marriott’s International’s Luxury Collection brand and the caliber of the team assembled here, we are confident the reopened hotel will quickly become one of the most coveted luxury destination hotels in the “city that never sleeps,” said Anthony Rutledge, CEO, HEI Hotels & Resorts

About Chestnut Street: Chestnut Street is a boutique real estate development firm specializing in high-value urban assets. Led by principals Charles Everhardt, Alpan Keskin and Nimrod Arad, the firm focuses on identifying unique opportunities for revitalization within the luxury hospitality and residential sectors, driving long-term value through strategic partnerships and innovative redevelopment.

About Silver Creek Development: Silver Creek Development is a vertically integrated real estate investment and development firm with a proven track record of delivering sophisticated projects in premier markets. With a focus on architectural excellence and community integration, Silver Creek creates landmark destinations that redefine the modern hospitality experience. https://silvercreekdevelopment.com/

About HEI Hotels & Resorts: HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates more than 100 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI’s branding partners include Marriott, Hilton, Hyatt, IHG, and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. To learn more about HEI, please visit www.heihotels.com

Melike Atil
Mel Strategies
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