February 19, 2019

Related eyes hotel space at F5 Tower catering to ‘high-performance travelers'

Image from ZGF [enlarge]

Space for a hotel in the F5 Tower is on floors three though 15.

In late 2017, SLS Hotels backed out of the 801 Fifth Ave. high rise now known as F5 Tower, for its main office tenant, F5 Networks. SLS had agreed to buy and operate floors three through 15 in the project, which was developed by Daniels Real Estate and financial partner Stockbridge Capital Group of San Francisco.

At the time, it was reported that Eastdil Secured was selling the 189-room hotel, which was also to have its lobby and a companion restaurant on the 16th floor, plus ground-floor space.

Now a new plan has been filed at 801 Fifth by Related Cos. of New York City for its new Equinox Hotel brand. It describes improvements to the lobby (aka the Sanctuary, the landmarked former First United Methodist Church) and 16th floor. It appears that the Sanctuary will become an Equinox gym, with a new cafe. The Sanctuary was also part of the old SLS deal.

Related was planning an Equinox gym at Wright Runstad's Rainier Square tower, under construction at 1301 Fifth. Related also filed plans last summer for the companion hotel on the southwest corner of the same block, as the DJC first reported. However, the hotel plan hasn't been updated since last fall.

That was well before recent unconfirmed rumors that Amazon will sublease instead of occupy all 722,000 square feet of offices at the 58-story Rainier Square, which should be completed next year. The 163-room, 12-story hotel hasn't risen beyond street level yet. It was originally said to be starting later than the main tower, but also finishing in 2020. Its footprint area is now used for construction staging.

Kevin Daniels directed DJC queries to Related, which didn't respond before deadline. Last week Related registered a new LLC in Washington state, and that name appears on several new plans just filed for 801 Fifth.

Related is planning Equinox Hotels, which “cater exclusively to the high-performance traveler,” at its Hudson Yards in New York City and Bunker Hill project in Los Angeles.

F5 Networks will soon relocate about 4,400 employees into the tower. It's also subleasing four floors in what is variously described as a 44- or 48-story building.