NEW YORK and WASHINGTON, D.C.—WhyHotel, a hospitality platform and operator, in partnership with building owner The Rudin Family, launched its first property in New York City—Front & Wall Street, operated by WhyHotel. Situated in the heart of NYC’s Financial District, Front & Wall Street will operate under the Hospitality Living business arm of WhyHotel, blurring the lines of home and hospitality by housing both long-term residents and nightly stay guests. WhyHotel will begin welcoming guests on November 1, 2021.
WhyHotel’s newest hospitality living property is a former office building, the majority of which was converted to apartment-style units in 2015. The building has just over 200 units and amenities such as a seventh floor terrace with outdoor grill and kitchen, fitness center with a spin studio, guest laundry room with ping pong and pool tables, and community kitchens.
WhyHotel will operate the building as a mix of short-term guest stays and longer-term resident leases. WhyHotel’s Hospitality Living model will support guests and residents whether they are in town for the weekend or seeking accommodation for months at Front & Wall Street.
“New York City is a market that we’ve had our eyes on for a long time now,” said Jason Fudin, CEO and co-founder of WhyHotel. “Our partnership with the Rudin Family is an exciting opportunity to reinvigorate a building that is incredibly well designed to bring together hospitality and home in a way we expect to become commonplace in the United States over time. The Rudin Family, as they have often been in real estate, is at the cutting edge of this trend. I can’t think of a better place than the heart of FiDi, where people come from around the globe, to launch this product.”
As living and travel patterns continue to change due to the pandemic—especially in markets like New York City—the ways, reasons, and durations of travel and leasing are also changing. With offices and leisure activities continuing to reopen, there is a need for a solution that spans both hospitality and home in this market. Residents of the building can expect the benefits of fully furnished apartments and hospitality-focused staff, while hotel guests can expect the comforts of home with additional space beyond a traditional hotel experience.
“As a company that owns and manages more than four million square feet of residences across New York City, we are constantly striving to enhance the tenant experience and evaluate new ways to provide our residents with best-in-class services and amenities in the city’s top neighborhoods,” said Ray Houseknecht, senior vice president and head of multifamily at Rudin Management Company, the operating arm of Rudin Family holdings. “This partnership with WhyHotel at 110 Wall Street will allow us to offer prospective renters a flexible and convenient short term or extended-stay housing option in the heart of the Financial District.”
WhyHotel is excited to bring its Hospitality Living concept to New York City for the first time and plans to continue to expand its footprint in the area in the future.