Clipper Equity’s David Bistricer co-owns the building with Joseph Chetrit, and the pair had planned to have Fën Hotels run the place, according to Brooklyn Paper. However, the company is no longer planning to do this, and the developers are in the middle of negotiations for a replacement firm.
Modernizing the hotel has also taken much longer than management anticipated, as they had originally hoped to reopen the hotel almost five years ago.
Bistricer and Chetrit bought the Bossert in 2012 from the Jehovah’s Witnesses for $81 million and said they would finish restoring the building by 2013, but openings have since been pushed back multiple times.
Stephen Allen, who is managing the restoration, told Brooklyn Paper that he hopes this most recent setback will be the final one.
“Right now the hotel is nearly finished,” he said. “I hope there won’t be any further delays.” [Brooklyn Paper] – Eddie Small