Last year, Second Development Services paid $11 million for a four-story, turn-of-the-century walk-up at 88 Schermerhorn Street, between Court Street and Boerum Place in Downtown Brooklyn. By November, demo permits had been filed, and now plans are in the works to build a 27-story condo development on the site.
Hotel developers are piling into manufacturing zones from the South Bronx to Bushwick, but the de Blasio administration is considering a ban on hotel development in these areas, particularly in protected industrial business zones (IBZs).
Developers are rushing to build hotels in Brooklyn’s priciest Industrial Business Zone, North Williamsburg, and now they’re looking further afield in the sleepy industrial borderlands of Bushwick and Ridgewood. The owner of a scrap metal recycling business at 25 Stewart Avenue, on the corner of Flushing Avenue in Bushwick, has filed a new building application to construct a nine-story hotel the property.
Zelig Weiss and Riverside Developers are already building the William Vale Hotel at 55 Wythe Avenue, and now they’ve filed new building applications for a 70-key hotel at 65 Eckford Street in Greenpoint.
The industrial no man’s land along Johnson Avenue in Bushwick is about to become very hip, between both a huge retail redevelopment planned near the Morgan L stop, and now, a nightclub conversion with a rooftop bar, planned for a warehouse at 599 Johnson Avenue, near the Ridgewood border.