Cornell Realty planning 26-story hotel project in Williamsburg

Project at 159 Broadway would also include about 18K sf of residential space

New York /
Feb.February 22, 2018 11:30 AM

The current vacant lot at 159 Broadway

Cornell Realty Management plans to construct a mixed-use project in Williamsburg split between residential and hotel space.

The project from Isaac Hager’s company would be a 26-story building at 159 Broadway with 21 residential units, according to plans filed Thursday with the city’s Department of Buildings. It would stand 277 feet tall and span just under 96,000 square feet, with 77,000 square feet of commercial space and 18,000 square feet of residential space.

The Williamsburghotel was previously planned for the site, which would have stood 26 stories and 264 feet tall with 13 residential units, according to DOB filings.

Cornell paid approximately $26.2 million for the site in November, according to property records. The company did not respond to a request for comment.

The firm landed a $64 million loan from Madison Realty Capital in November for its mixed-use project at 200 Kent Avenue in Williamsburg, where Cornell is planning a 117,000-square-foot office and retail project. Cornell had also been planning to rezone a property in Crown Heights to build a project with 565 apartments, but the developer abandoned those plans in April in the face of opposition from the community.


Related Articles

arrow_forward_ios
Hana Financial Investment’s Lee Jin-Kook and a rendering of 1 St. Marks Place (Hana Financial Investments)

Hana Financial to sell loans tied to Manhattan office, hotel properties

Hana Financial to sell loans tied to Manhattan office, hotel properties
Extell Development's Gary Barnett and 32 West 48th Street (Google Maps)

Extell makes its Diamond District hotel official

Extell makes its Diamond District hotel official
The Grand Hyatt Hotel at 109 East 42nd Street and and  RXR’s Scott Rechler (Wikipedia Commons; Getty)

Grand Hyatt redevelopment could be 1,600-foot supertall

Grand Hyatt redevelopment could be 1,600-foot supertall
(iStock)

Ski resorts gear up for tough season in the shadow of pandemic

Ski resorts gear up for tough season in the shadow of pandemic
A rendering of Gowanus Green and HPD commissioner Louise Carroll (Rendering via Jonathan Rose Companies)

Massive Gowanus development will be 100% affordable

Massive Gowanus development will be 100% affordable
Union Square and Mayor Bill de Blasio (Getty)

City drops bid to require special permits for Union Square hotels

City drops bid to require special permits for Union Square hotels
Domio’s interim CEO Jim Mrha (Photos via Domio; iStock)

Domio not shutting down, plans “financial re-engineering”

Domio not shutting down, plans “financial re-engineering”
Domio's CEO Jay Roberts and Chief Strategy Officer Adrian Lam (Photos via Domio)

Short-term rental operator Domio shuts down

Short-term rental operator Domio shuts down
arrow_forward_ios

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

Loading...