Guttmans planning 155-key hotel in Greenpoint

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

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
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
How a Singaporean REIT’s mighty US hotel investment sunk
How a Singaporean REIT’s mighty US hotel investment sunk
How a Singaporean REIT’s mighty US hotel investment sunk
525 Lexington Avenue and Ben Ashkenazy (Photos via Google Maps, Getty Images)
Court rules Ashkenazy must pay share of $135M Marriott loan
Court rules Ashkenazy must pay share of $135M Marriott loan
Blackstone CEO Stephen Schwarzman and Starwood CEO Barry Sternlicht (Getty)
Here’s an inside look at Extended Stay’s 62K-key portfolio
Here’s an inside look at Extended Stay’s 62K-key portfolio
Sam Chang and 525 Eighth Avenue
Sam Chang unloads Garment District hotel
Sam Chang unloads Garment District hotel
The Roger New York hotel at 131 Madison Avenue, Larry Korman of AKA Hotel Residences and Joe Lubeck of Electra America (Google Maps, Getty, Electra)
Electra America JV nabs Roger hotel for $71M discount
Electra America JV nabs Roger hotel for $71M discount
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
The commercial market was hit hard by the pandemic, and property tax revenue is expected to fall 5 percent. (iStock)
Tax bills show how much Covid devalued NYC real estate
Tax bills show how much Covid devalued NYC real estate
arrow_forward_ios

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

Loading...