Hotel



139 Orchard Street

Developers Acquire Stalled 16-Story, 98-Key Hotel Project at 139 Orchard Street, Lower East Side

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.


110 South Bridge Street, image via Google Maps

Permits Filed: 110 South Bridge Street, Hotel in Richmond Valley, Staten Island

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.

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Ninth and Final Floor Underway at Hyatt Place, 27-07 43rd Avenue, Long Island City

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.

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