The Rockpoint Group has abandoned plans to build a hotel development in Meatpacking District together with Highgate Holdings and the property owner Meilman Family Real Estate. Instead, the building planned at 412 West 15th Street will be an 18-story office tower offering 130,000 sq ft of boutique office space. Asking rents are to start at $150 per sq ft. The decision likely stems from recent growth in office occupiers from the tech sector, such as Google’s Alphabet. CBRE’s Paul Amrich and Neil King will handle leasing at 412 West 15th Street.
