LVMH may set up hotel at Drake site in New York

The French luxury mills LVMH is reported to be eyeing the much-coveted L-shaped Drake site at 56th and 57th streets and Park Avenue. The luxe company wants to expand its presence in the city, presently confined along the north side of East 57th Street from its Christian de Portzamparc-designed headquarters at Fifth Avenue to Park Avenue. A rumor-bird from the industry has suggested that the company is presently looking at developing a high-stakes hotel, apartments, and retail for their brands, and this single best piece of land proves perfect for them.
[NY Post]

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