The Real Deal New York

Guttmans planning 155-key hotel in Greenpoint

Vacant warehouse at terminal market site to be converted into nine-story property
By Rey Mashayekhi | November 04, 2015 11:51AM

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.