The Real Deal New York

Cornell Realty planning 26-story hotel project in Williamsburg

Project at 159 Broadway would also include about 18K sf of residential space
By Eddie Small | February 22, 2018 11:30AM

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.