Barone’s CR7 by Pestana Tops Out in Times Square West
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.