in 2015
Larry Silverstein's Silverstein Properties, developer of the nearby
World Trade Center, purchased the property at 99
Church Street for $170 million from
Moody's Corporation in November 2006. At the time, the site was occupied by an 11-story, office building built in 1951 that served as Moody's headquarters. However, Moody's had recently agreed to move to Silverstein's
7 World Trade Center which would leave the Church Street building vacant in 2007. At the time, the developer and
CalSTRS planned to tear down the offices and replace it with a 58-story residential tower. In March 2007, Silverstein officially unveiled plans for a 60-story, mixed-use tower on the site that would include a boutique hotel on the building's first 20 stories. The 2011
Driehaus Prize winner
Robert A. M. Stern was revealed as the architect in November 2007 when Silverstein announced that the building would begin construction in mid 2008 for an early 2011 completion. Demolition of the previous 11-story building began in November 2007. The building's 80-story, design was showcased in January 2008 during which
Four Seasons Hotels and Resorts (partly owned by
Cascade Investment controlled by
Bill Gatеs) was revealed as the hotel operator, along with the official address of 30 Park Place. However, by March 2009 the project was on hold as Silverstein was unable to acquire financing during the
2008 financial crisis. Larry Silverstein announced a new start date of 2012 and a completion date of 2014 at the Bloomberg Real Estate Briefing in November 2010. In May 2013, Silverstein Properties secured $660 million for construction financing from UK hedge fund
The Children's Investment Fund.
Tishman Construction managed the project. Construction began in the fall of 2013, the building topped out in early 2015, and installation of the exterior and windows was finished in August 2015. The hotel celebrated its grand opening on September 19, 2016. At the time it was the second tallest residential building in Downtown Manhattan, after
70 Pine Street. ==Amenities==