In 2011, D.A.B. Group defaulted on the mortgage for their 16-story, 98-key hotel project at 139 Orchard Street, located on the Lower East Side. The developer eventually lost control of the site and abandoned construction on the structure, although the building topped out before work stopped. The latest development is that Fortuna Realty Group and Elk Investors won an auction to acquire the stalled-out project for $30.75 million, The Real Deal reports. Buildings applications indicate the hotel will measure 39,064 square feet. The new owners plan to finish construction on the building as a hotel. Completion is expected sometime in 2017.
Back in 2003, Sal Faraone helped open the Brooklyn Motor Inn on Hamilton Avenue in industrial Red Hook, above an entrance to the Brooklyn-Battery Tunnel. “‘People come in and say, ‘Is it dangerous, this neighborhood?'” he told the Times. “They don’t know it’s up and coming.” Now Faraone hopes to build another hotel in a forlorn industrial area. He’s filed plans for a four-story inn at 110 South Bridge Street in Richmond Valley, Staten Island.
Long Island City’s incredible construction boom continues as the Hyatt Place hotel at 27-07 43rd Avenue reaches its final, ninth floor. The 108-room hotel, developed by Prakash Patel with Triborough Construction Service Inc. serving as the general contractor, is among the five new hotels under development in the Queens Plaza/Court Square district. The 59,411-square foot building is designed by Michael Kang Architect. The firm was also behind the design for the seven-story, 162-room Comfort Inn built at 42nd Road and Crescent Street, which, in 2003, became one of Long Island City’s first hotels. Although the spring 2016 completion date indicated on this project’s board is unrealistic, construction seems to be moving at a reasonable pace. Completion in the second half of the year seems probable.
Brooklyn North Capital has filed applications for a 14-story, 198-key hotel at 38-15 9th Street, in the Ravenswood section of Long Island City, located six blocks from the 21st Street-Queensbridge stop on the F train. The new 82,586-square-foot building would rise on a 124-foot-wide, 12,483-square-foot assemblage located mid-block. Red Lion Hotels Corporation will operate the hotel, according to The Real Deal. The hotel rooms will be located between the second and 13th floors, with amenities hosted on the remaining levels. Specifically, the cellar will contain a fitness center, banquet rooms, and accessory office and storage space; the ground floor will host a coffee shop, a restaurant/bar with outdoor seating, and storage for six bikes; finally, there will be another outdoor bar on the 14th floor. Completion of the building is expected in 2019. Five two-story brick apartment buildings – spanning 38-15 – 38-23 9th Street – must first be demolished.
TCX Development is planning a 15-story, 72-key hotel at 92-18 150th Street, located at the corner of Archer Avenue in downtown Jamaica, strategically located two blocks from the Jamaica Center-Parsons/Archer Station on the E/J/Z trains and five blocks from the Jamaica hub station on the Long Island Rail Road. The project, which does not currently have new building applications with the city’s Department of Buildings, should measure 35,000 square feet, with hotel rooms averaging 250 square feet apiece, Commercial Observer reports. It will feature a 2,000-square-foot rooftop bar and a 1,500-square-foot restaurant. ARC Architecture + Design Studio is responsible for the design. The developer has already demolished the site’s single-story predecessor. TCX acquired the site for $1.7 million in August of 2015.