Starwood Capital Group And Tribeca Associates Announce Sales Launch For Baccarat Hotel & Residences New York

Featuring Tony Ingrao-Designed Private Residences Inspired by the Brilliance and Artisanship of the Revered French Crystal Company

NEW YORK, March 5, 2013 /CNW/ - Starwood Capital Group, in partnership with Tribeca Associates, today announced the official start of sales for Baccarat Hotel & Residences New York, located just off Fifth Avenue on 53^rd Street directly across from the Museum of Modern Art. Poised to be one of Manhattan's most prestigious addresses, Baccarat Hotel & Residences New York marries brilliant design with exceptional service and amenities that reflect the richness of the venerable French crystal company's nearly 250-year heritage.

Designed by the award-winning architects of Skidmore Owings & Merrill, the striking 50-story glass tower will feature 61 private residences designed by Tony Ingrao that range in size from one- to four-bedrooms, including four full-floor units and one five-bedroom penthouse duplex with outdoor terrace. In addition, the tower will feature a luxury hotel, with 114 rooms including 26 suites, that will be the global flagship for Baccarat Hotels.

"Reflecting the elegance and prestige of Baccarat, the new Hotel & Residences will be a landmark destination in the heart of Manhattan," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group. "It will provide an unmatched experience for guests and residents to admire the company's artisanship and commitment to perfection in both service and design."

Drawing inspiration from the brilliance and craftsmanship of the crystal company's design history, Baccarat Hotel & Residences was fortunate to enlist one of Manhattan's most distinguished interior designers, Tony Ingrao, to conceptualize the distinct interior design for the building's private residences. A long-time admirer of the Baccarat brand, Ingrao brings an exceptional understanding of architecture and an innate sense of elegance and luxury to the residences, his first full-scale development project.

The residences will have a private entrance and feature sophisticated finishes that combine natural elements with contemporary concepts including: custom bronze-work crackled with crystal, modern furnishings and floor-to-ceiling windows that capture the natural light outside and reflect a shimmering brilliance throughout each space. A Baccarat chandelier will also be incorporated as a signature feature in the foyer of each residence, reinforcing Baccarat's reputation for creating exquisite pieces of art.

The master bath is generously outfitted with a free-standing soaking tub, glass-enclosed shower and rich white marble, including the floor, walls and vanity. True to the brand's commitment to perfection, only the finest brands and technology are incorporated throughout, Miele and Sub-Zero in the kitchens, LG washers and dryers, as well as Kallista wash basins. Each residence is also equipped with fully automated Crestron controls to adjust lighting, audio/visual, heating/cooling, and window shades.

Residential owners will have complete access to all luxury hotel amenities and services including personal concierge and housekeeping services, 24-hour in-residence dining and access to the beautifully designed spa, indoor pool and fitness facility. The luxury hotel will also feature a standalone "crystal bar" surrounded by an outdoor Tuileries-style terrace, and a bustling bar and restaurant, all of which will provide a luxury lifestyle experience unlike any other in Manhattan.

With prices ranging from $3.5 million to $60 million, Baccarat Residences offer layouts from approximately 1,000 square feet to 7,400 square feet, with the option for buyers to combine units.

Originally created by decree from King Louis XV, Baccarat is renowned for unmatched craftsmanship, innovation and stunning design since 1764, matching the desires of its illustrious clientele: Czar Alexander the Great, the King of Thailand and Coco Chanel. The company still operates and manufactures its products in the picturesque town of Baccarat in the Alsace-Lorraine region of France, where only absolutely perfect crystal creations are allowed to bear the Baccarat name. The same will be true at Baccarat Hotel & Residences New York where the property will embody perfection in every facet of service and design. Baccarat Hotel & Residences New York will open in 2014, coinciding with the crystal company's 250 year anniversary.

The Baccarat Residences New York sales center, located at 680 Fifth Avenue, is now open and accepting appointments. Corcoran Sunshine Marketing Group is managing all sales and marketing efforts for Baccarat Residences. www.baccaratresidencesny.com

*Prices and availability are subject to change without notice.

ABOUT STARWOOD CAPITAL GROUP

Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised more than $16 billion of equity capital, and through its various funds, has invested $13.7 billion representing over $36 billion in assets. Starwood Capital Group currently has more than $22 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Chicago and Los Angeles, and affiliated offices in London, Luxembourg, Paris, Mumbai and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.

ABOUT TRIBECA ASSOCIATES

Tribeca Associates is a private, New York-based real estate development and acquisition firm, specializing in hospitality, residential and commercial assets. Since being founded in 2000, the firm has completed more than $1 billion in transactions. Leveraging years of experience in the New York marketplace, the firm's partners are guided by a hands-on entrepreneurial approach and high-level involvement in each project that distinguishes Tribeca Associates and results in the creation of exceptional assets. Tribeca Associates' portfolio includes Baccarat Hotel & Residences New York, The Smyth Hotel and Residences, Artisan Lofts, and 170 Broadway. Additional information about Tribeca Associates can be found at www.tribecaassociates.com.

SOURCE: Starwood Capital Group

Katie Fontana, [email protected], or Courtney Marzahn, [email protected], both of Susan Magrino Agency, [phone], for Starwood Capital Group

http://www.starwoodcapital.com