338 W 39th Street, New York NY
Located just west of the iconic Times Square “bowtie,” the CR7 by Pestana Hotel was developed with Portuguese-based Pestana Group. This site is the third of many hotels planned in the United States and will serve as the hotel group’s US flagship. The CR7 by Pestana lifestyle hotel brand is a partnership between Pestana Hotel Group and soccer icon Cristiano Ronaldo. The 85,000sf Times Square West location features 177 exclusive guest rooms – six of which have a private terrace – a breakfast area, fitness center, and a double height lobby.
Pestana Hotels and Resorts is a premier European brand that has expanded globally and currently owns and operates over 90 hotels throughout Europe and the Americas, with presences in major cities throughout the world, such as London, Barcelona, Berlin and Rio De Janiero.
As both the developer and the ground lessor of this property, Barone Management topped off the superstructure in June of 2018. Barone completed the building in the first quarter of 2021, and concurrently sold its fee interest positions in the property.