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New kids on the block: Condos likely for 319 Schermerhorn St., hotels headed that way too

This design drawing graces the construction fence at 300 Schermerhorn St., where a Holiday Inn is being built. Rendering by Gene Kaufman Architect PC

 

Eye On Real Estate

Brooklyn Daily Eagle

There's big stuff sprouting all around Nevins Street's trendy new EVEN Hotel.

Steel beams are rising for a residential building at 319 Schermerhorn St., right across Nevins Street from InterContinental Hotels Group's health-and-fitness-focused inn. And developer Haysha Deitsch of Beechwood Acquisitions tells Eye on Real Estate his project will probably go condo.

What's the appeal of the Schermerhorn site four blocks from Barclays Center, which city records show his LLC paid $10,765,364 for in January? Location, location, location, of course.

“You're not in the chaos – but it's close to everything,” said Deitsch, a former project manager for Boymelgreen Developers who was in charge of building Bridgefront, Boymelgreen's condo development at 42 Main St. in DUMBO.

He's planning a 20-story, 60-unit property on Schermerhorn, city Buildings Department filings indicate. There will be retail space on the ground floor, for which he hasn't started tenant-hunting. He hopes to finish construction by the middle or end of 2015.

On the other side of Schermerhorn from the EVEN Hotel, another InterContinental property is underway at 300 Schermerhorn St. – the 246-room Holiday Inn Brooklyn Nevins Station.

In this instance, InterContinental is the franchise partner. Father-and-son developers K.K. and Sanjeev Mehta are the owners.

The Holiday Inn is expected to open in early 2015, InterContinental announced in October. For guests who need a break from Barclays or the charms of the nearby BAM Cultural District, it will have an indoor pool.

On the EVEN Hotel's side of Schermerhorn, before you know it the big parking garage at 33 Bond St. will be cleared of its last tenants as a prelude to demolition. Big-name developers Tom and Fred Elghanayan of TF Cornerstone are building a massive apartment complex there.

One of the last retail tenants remaining on the Livingston Street side of the garage is the Greyhound bus station, which is closing on Dec. 31.

The rent would be double for a short-term lease extension, said Greyhound franchisee Victor Vora. He will move bus-ticket sales to a gift shop he owns at 4 MetroTech while he continues to search for a new Downtown Brooklyn location to rent.

The IHOP pancake house in the garage is plastered with “Open Christmas” signs. Employees don't know what's holding up a planned move to neighboring 253 Livingston St., next to the Planet Fitness gym in that building.

(How convenient for customers who want to work off the whipped cream on those strawberry-banana pancakes – and aren't staying at the EVEN Hotel, which will have a first-rate gym and workout space in its rooms.)

Isaac Mograby of Crown Retail Services, 253 Livingston's leasing agent, didn't respond to a call asking what's up.

 

December 11, 2013 - 4:00pm


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