It looks like McSam is bailing on Downtown Brooklyn. The prolific hotel developer had at one point been planning to build a 12-story Hyatt Place Hotel at the corner of Schermerhorn and Nevins Streets, but the property is now on the market with Massey Knakal with a price tag of $5,000,000. According to the listing, the lucky buyer will be able to put up a 90,000-square-foot building (assuming they take advantage of the inclusionary zoning bonus). Any takers?
Development Watch: 46 Nevins Street [Brownstoner] GMAP
Development Watch: 46 Nevins Street [Brownstoner] P*Shark
Development Watch: 46 Nevins Street [Brownstoner] DOB