Pepper and Potter Goin’ Down; Hotel Plans Sunk?

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In November we noticed the old Pepper and Potter Building getting prepped for demo, then this permit came through noting that demolition work should have begun February 4th. (When we stopped by the other day, the building was still up.) We called a co-owner of the site, which was snatched up in 2008 for $10.8 million, and he did say demolition would begin soon. However, he claimed the demolition was to take care of the “unsightly and unsafe” building itself, and that previous plans for a hotel are no longer in place. We wrote in November 2009 that the site received a $20 million tax-free loan, but to qualify it had to break ground by the end of 2010. That obviously didn’t happen, so we wonder if the loan just fell through. Update: A commenter informs us the demo has begun, and so far the roof and interiors are gone.
Pepper and Potter Prepped For Demo [Brownstoner] DOB
Stimulus Boost for Downtown Brooklyn Hotel [Brownstoner]
From Cars to Mini-Fridges on Tillary [Brownstoner] GMAP

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