The Real Deal New York

Ashkenazy mulls 150-key hotel south of PA Bus Terminal 

Developer looking to purchase building bonuses for property
Ben Ashkenazy and the site at 609 8th Avenue

Ben Ashkenazy and the site at 609 Eighth Avenue

A Garment District block that’s got more bellhops than seamstresses may be getting yet another hotel.

Ben Ashkenazy’s Ashkenazy Acquisition Corporation has plans to develop a site on Eighth Avenue that could include a 150-key hotel.

The block, between West 39th and 40th streets just south of the Port Authority Bus Terminal, is already home to a number of limited-service hotels including several developed by Sam Chang and one in the works by Abraham Noy.

Ashkenazy TRData LogoTINY is planning to develop its site at 609-611 Eighth Avenue, which is currently home to an Arby’s restaurant and a space soon to be occupied by Filipino fast-food chain Jollibee.

The developer filed an application with the Department of City Planning to purchase 31,600 square feet of building bonuses available in the Hudson Yards area for $3.97 million. With the as-of-right buildable square footage, that would give the developer a total of 71,100 square feet of development rights that Ashkenazy said it is contemplating using for either a limited-service hotel atop a two-story retail base or a commercial-and-residential building.

Ashkenazy bought the property at 609-611 Eighth Avenue in 2014 for $30 million, property records show, and at the same time picked up a leasehold interest at the property next door at 601 Eighth Avenue for $8 million.

A representative for the developer did not respond to a request for comment.