Barone’s CR7 by Pestana Tops Out in Times Square West
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Barone Management has topped out on its eighth New York City hotel development, the CR7 by Pestana Hotel at 338 W. 39th St. The 177-key property will be Portugal-based Pestana Hotel Group’s second in this country and will serve as its U.S. flagship.
The CR7 by Pestana lifestyle hotel brand is a partnership between Pestana and soccer star Cristiano Ronaldo. Barone Management founder Scott Barone said the 78,069-square-foot Times Square West location offers Pestana “the ideal location to launch its unique product.”
338 W. 39th joins a Barone roster of local developments that also includes two recently-developed and sold projects, the 328-key Arlo SoHo in SoHo and the 202-key IHG Even Hotel in Brooklyn. The firm currently owns a 227-key Marriott Fairfield Inn & Suites in Midtown, as well as the Wyndham Garden LaGuardia property in Queens. An ultra-luxury 96-room hotel is under development in Tribeca.