Jane Hotel team takes over 180 Ludlow

October 21, 2011 03:15PM

There’s no longer any mystery as to who owns the long-stalled concrete shell at 180 Ludlow Street on the Lower East Side. Curbed reported that BD Hotels, the team behind the Bowery and Jane hotels, among others, have picked up the property for $25 million.

It was sold to BD by S&H Equities, a real estate development firm specializing in the Lower East Side that’s run by Serge Hoyda (note: correction appended). But at a community board meeting this spring, Hoyda said he was only in charge of construction and didn’t actually own the building. Later, Hoyda, who bought the building in 2007 for $10 million from an LLC named 182 Realty, got in a dispute with the previous owners who claimed he owed them millions on the property.

The concrete shell has been in place for more than two years, and was first slated to be a hotel by S&H, before it began rethinking it as a 158-unit rental building. But now it’s expected to stay a 170-room hotel under the new owners. [Curbed]