The Real Deal New York

U.S. Bank seeks $17M from Queens Plaza hotel developer

April 30, 2009 05:31PM
By Adam Pincus

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National lender U.S. Bank is suing to recover a $17.2 million loan made to a Brooklyn company that planned to develop a Long Island City parcel into a Starwood Aloft hotel, court papers show.

“The relief sought is judgment against defendant Queens Plaza Development in the amount of $17,236,709.77, plus interest, costs and attorneys fees,” the motion filed April 24 in Manhattan State Supreme Court says.

Queens Plaza Development filed plans in January 2008 for a 220-foot tall, 16-story hotel at 29-37 41st Avenue in Queens Plaza, city Department of Buildings records show.

Despite demolishing a three-story bank building after demolition plans were filed with DOB in March 2008, the site remains vacant.

Aloft is a budget version of the W hotel brand, with trendy elements such as a colorful bar called “re:mix lounge” and access to a Wi-Fi
connection. On March 25, a representative of Adellco filed plans with the DOB for 32-story Aloft at 815 Sixth Avenue in Chelsea, the Observer reported.

In addition to the Brooklyn-based development company, the court papers also name as defendants Ed Somekh and Yoram Shemesh, of the Yess Property Group development company; Moshe Feller of Brooklyn; and Isadore Mayrock of Uniondale, New York. None of them were immediately available.

The Starwood Web site identifies the future 249-room hotel as By the Bridge, with an opening date of Dec. 31, 2010. The parcel is near the approach to the Queensboro Bridge.

Starwood did not provide additional information.

An attorney for Queens Plaza Development declined to comment through a spokesperson. An attorney for U.S. Bank did not respond to a request for comment.

alternate textEmpty lot at 29-37 41st Avenue (top), Aloft lounge (bottom left) and the demolished building at 29-37 41st Avenue (bottom right)

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