Is This New York's Next 5-Star Hotel?

New York's most hotly anticipated hotel opens at the end of the summer, in the city's most buzzworthy condo building, on one of the most exclusive blocks in Manhattan.

It's kind of a big deal.

The Park Hyatt New York aims to be the city's first new five-star hotel in more than a decade, according to Bloomberg. The 25-floor property sits at the base of the ultra-luxury condominium tower, One57, located on West 57th Street (a.k.a. "billionaires' row").

New York City currently has eight 5-star hotels - the 11-year-old Mandarin Oriental being the most recently anointed. Should the Park Hyatt qualify for the Forbes Travel Guide's top rating, it has to go above and beyond, providing "room amenities including fresh flowers and wine by the glass presented in the bottle and poured by room-service staff."

Upon opening, the Park Hyatt will be visited by an inspector from the Forbes Travel Guide, and a second anonymous inspector, to be sure it meets the impeccable standards.

A night of hospitality-bliss doesn't come cheap. Booking one of the Park Hyatt's 210 guest rooms starts at $795 a night.

Let's see what all the buzz is about.

Welcome to One57, the second-tallest residential building in Manhattan, standing at 90 stories.It sits at the base of Central Park, and offers sweeping views of the skyline.

The guest rooms will be luxuriously outfitted. Hyatt and building majority owner Extell Development Co. spent an average of $1.8 million on the construction of each room. The design is clean and modern, and imitates the interior of high-end apartments.The rooms range from 475 to 2,239 square feet. Floor-to-ceiling windows offer plenty of natural light, and wood flooring make the upscale setting feel like home.Guests will feel like royalty in the plush bathrooms, stocked with products by boutique perfumery Le Labo and mirrors with built-in TV screens.

Courtesy of Park Hyatt New York

The hotel features some pretty sweet amenities, too. Here's a rendering of the spa, which has treatment suites attached to private balconies.

Courtesy of Extell Development Co.

The indoor pool contains underwater speakers that pipe in music from neighboring Carnegie Hall.The Park Hyatt New York opens later this summer.