The Real Deal New York

Posts Tagged ‘sion misrahi’

  • 180 Orchard hotel plans scrapped

    February 03, 2010 11:30AM

    The construction site at 180 Orchard Street

    Developer Morris Platt’s planned hotel-residential-retail development for 180 Orchard Street on the Lower East Side is going through some growing pains, according to the Lo-Down blog. The stalled project has reentered negotiations with the Department of Buildings, according to Sion Misrahi of Misrahi Realty, the firm responsible for leasing the development’s planned commercial space. At the moment, Morris Platt has opted to scrap the hotel plans and make the space all residential, with a commercial ground floor, according to Misrahi, who said that banks were reluctant to finance a hotel project. The final hurdle to DOB approval for the project, is overcoming community opposition. But with the erstwhile hotel planned scrapped, Misrahi said he’s optimistic that the project may garner more support as an apartment building.

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  • Sion Misrahi, a Lower East Side developer, says the New York City Department of Buildings is “scared to death,” according to the Lo-Down blog. In light of the recent allegations of corruption within the DOB, Misrahi says that the department is now “scared of [its] own shadow,” and acting with undue trepidation. Misrahi, who had a role in a recent documentary, “The Lower East Side: An Endangered Place,” said that this fear is the reason that there are over 540 stalled construction sites in the city. He believes that department trepidation has made it “impossible to do business in the city.” The developer is outspoken on his opposition to stricter new rezoning laws that he feels stymie city growth, and maintains that the DOB is targeting existing buildings with fines, because there are few new construction sites to monitor.

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