Cornell Realty planning 26-story hotel project in Williamsburg

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

TRD 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
22-15 31st Street (Google Maps)

Supermarket signals demise as Target eyes Astoria

Supermarket signals demise as Target eyes Astoria
Robert De Niro and 377 Greenwich Street (Getty, Google Maps)

Robert De Niro says Nobu, Greenwich Hotel are struggling

Robert De Niro says Nobu, Greenwich Hotel are struggling
270 Park Avenue (Google Maps; iStock)

City planning through a pandemic

City planning through a pandemic
The economy beat expectations in June, adding 4.8 million jobs, with retail and hospitality leading the way. But a surge in coronavirus infections threatens further gains. (Getty)

Retail and hospitality led June job gains as virus surged

Retail and hospitality led June job gains as virus surged
President Donald Trump (Getty, iStock)

Trump tweets that he “may END” Obama-era fair housing regulation

Trump tweets that he “may END” Obama-era fair housing regulation
Alex Sapir with the NoMo Soho hotel at 9 Crosby Street (Nomo Soho)

Sapir Corp’s earnings highlight challenges facing NYC hotels

Sapir Corp’s earnings highlight challenges facing NYC hotels
Competition for affordable housing in New York City is highest among those who need affordable housing most (Getty, iStock)

Poorest face worst odds in city’s housing lotteries

Poorest face worst odds in city’s housing lotteries
The rate of job loss in America has stabilized, even though businesses continue to hemorrhage employees at unprecedented levels. (iStock)

Unemployment filings stabilize — but at record highs

Unemployment filings stabilize — but at record highs
arrow_forward_ios

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

Loading...