The Real Deal New York

This German billionaire is planning a 120-key hotel by the Brooklyn Navy Yard

Hotel at 11 Grand Avenue will stand five stories tall and span 43K sf
By Eddie Small | August 20, 2018 01:15PM

Hans Georg Näder and 11 Grand Street (Credit: Getty Images and Google Maps)

A 120-key hotel is coming to Clinton Hill thanks to a German billionaire.

Hans Georg Näder, head of the orthopedic device manufacturer Otto Bock Group, filed permits with the Department of Buildings on Saturday to build a 120-key hotel at 11 Grand Avenue, right by the Brooklyn Navy Yard.

The hotel would stand five stories tall and span about 43,000 square feet with restaurant and retail space on the ground floor. It would replace a one-story industrial property.

Forbes ranked Näder at No. 729 on its 2018 list of billionaires with an estimated net worth of $3 billion. He did not immediately respond to a request for comment.

The Brooklyn Navy Yard is currently in the midst of a $2.5 billion development plan that will add 5.1 million more square feet of space to the Tech Triangle site.