Kansas-based hotel developer LodgeWorks acquired a vacant Downtown Brooklyn lot this month and plans to bring a 117-room branded hotel to the site, Greg Epp, the firm’s COO said.
It acquired the 4,700-square-foot lot at 125 Flatbush Avenue Extension, just west of the Manhattan Bridge entrance ramp, for $7.75 million from Rhode Island-based hotel investment firm Magna Hospitality Group March 8. It appeared in public records yesterday.
Magna had bought the property in March 2008 for $10.8 million and one year later filed plans with the Department of Buildings for a 13-story, 46,840-square-foot hotel with 116 rooms. In late 2010, its plans to demolish the one-story Pepper and Potter used car dealership that sat on the site for more than 60 years were approved and work began. However, the plans for a hotel fell through, according to published news reports.
Magna did not immediately respond to multiple requests for comment.
Now, LodgeWorks confirmed it will pick up where Magna left off and deliver a hotel to the property. The franchise is still in the process of being finalized but it will be “a well-known national brand,” Epp told The Real Deal.
LodgeWorks currently manages hotels for Hyatt Hotels, Hilton Worldwide, Starwood Hotels and Resorts and Wyndham Hotels and Resorts, according to its website.
It marks Lodgeworks’ second New York City project, as in September it acquired a West 38th Street property in Manhattan with the intention of bringing a hotel to the site, The Real Deal first reported.