Guttmans planning 155-key hotel in Greenpoint

Vacant warehouse at terminal market site to be converted into nine-story property

TRD New York /
Nov.November 04, 2015 11:51 AM

Developers Jack and Joshua Guttman’s latest project will be a 155-key hotel on the site of the abandoned Greenpoint Terminal Market complex near the Brooklyn waterfront, according to a permit application filed Wednesday with the city’s Department of Buildings.

The Guttmans’ Pearl Realty Management is converting a vacant eight-story warehouse at 60 West Street, located between Milton and Noble streets, into a nine-story hotel spanning more than 84,000 square feet. The firm bought the Greenpoint Terminal complex for $24 million in 2001, and a massive fire severely damaged several of the warehouses in 2006.

The project is slated to hold 155 hotel rooms as well as retail space and a restaurant on the ground floor, while the second floor will hold a bar and a gym. The top floor will house a rooftop bar, pool and outdoor terrace. There will be 16 rooms on the third floor, 28 rooms on each of the fourth through seventh floors and 27 rooms on the eighth floor, according to the filing.

Flatiron District-based FXFOWLE, the project’s architect of record, did not respond to a request for comment. Dumbo-based Pearl Realty Management could be reached for comment.

The conversion will be the developers’ latest to change the face of Greenpoint. Jack Guttman and his father, Joshua, opened the 28,000-square-foot Brooklyn Expo Center at 79 Franklin Street last year.

The Guttmans recently sold a pair of Brooklyn loft buildings to real estate investor Robert Morgenstern and partner Valyrian Capital for $28 million, as The Real Deal reported.

Correction: A previous version of this story cited a planned development in Manhattan’s Midtown West by a different developer named Jack Guttman.


Related Articles

arrow_forward_ios
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Hotel Indigo)

Tallying crisis’ toll on MRR Development’s Hotel Indigo

Tallying crisis’ toll on MRR Development’s Hotel Indigo
Selina CEO Rafael Museri (Credit: The Vollman Group)

Selina CEO says $60M in funding will get startup through crisis

Selina CEO says $60M in funding will get startup through crisis
Rotem Rosen with the Hotel Indigo Lower East Side at 171 Ludlow Street, and Alex Sapir with the NoMo Soho hotel at 9 Crosby Street (Credit: Google Maps)

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his
Clockwise from top left: John Tolbert, Philip Goldfarb, Dev Motwani, José Cil and Ken Stiles

Developers, resort owners push for Florida reopening plan

Developers, resort owners push for Florida reopening plan
Courtyard by Marriott Boston Downtown. Homewood Suites Chicago and Sheraton San Jose Hotel (Credit: Google Maps)

Hotel CMBS loans worth $2B fall into special servicing

Hotel CMBS loans worth $2B fall into special servicing
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Google Maps)

Rotem Rosen lands SBA loan on Hotel Indigo to keep lights on

Rotem Rosen lands SBA loan on Hotel Indigo to keep lights on
Missed loan payments will approach Great Recession highs, a new report finds (Credit: iStock, Getty Images)

Missed loan payments to approach Great Recession levels: Fitch

Missed loan payments to approach Great Recession levels: Fitch
RedSky Capital’s Benjamin Bernstein and 1 Java Street in Greenpoint (Credit: ICSC and Google Maps)

RedSky puts Greenpoint dev site on market asking $165M

RedSky puts Greenpoint dev site on market asking $165M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...