Warnick + Company has served as development advisor and project manager for Peninsula Real Estate since their acquisition of the Eastgate Tower hotel, located on East 39th Street between 2nd and 3rd Avenues, in late 2006. W+C assisted in the rezoning of the property to fully transient hotel use in mid 2007. Construction is anticipated to start in late 2010 for the $25+ million capital improvements program, which includes repositioning the existing 187-room hotel (while open) to include an additional 48 keys and two floors of new public areas. In keeping with Marriott brand standards and the hotel’s unmatched Manhattan Eastside location, the result will be a unique, urban lodging facility with completely updated building infrastructure and a balanced offering of 235 studios and suites. W+C has worked with the owner from pre-purchase due diligence, through design and permitting. The asset will remain operational throughout its renovation program.