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January 9, 2008

Permit Issued For First President Street Hotel

3rd-and-president-hotel-01-2008.JPG
There have been a couple developments on Gowanus’s nascent hotel row, President Street between 3rd and 4th avenues. First off, the DOB issued a new building permit for a four-story hotel on the corner of 3rd Avenue, above. This one is rumored to be an economy chain with 50-some-odd rooms. Second, SAI Hospitality closed on its purchase of 561 President for $6.2 million, according to public records. The warehouse is one of two on the block that SAI plans to demolish and replace with high-end hotels. If all the hotels get built, there’ll be almost 300 new rooms on a single Gowanus block. Sort of boggles the mind, no?
Developer Plans Two Hotels on One Gowanus Block [Brownstoner] GMAP
Another Gowanus Hotel Takes Shape [Brownstoner]




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Comments

Exciting, now my parents have a place to stay when they vist me in my $2000/month studio. Also, I can put them to work in the factory across the street while I am at work!

Posted by: guest at January 9, 2008 10:49 AM

300 rooms in a city of 2.5 million people?

No, it does not boggle the mind. Brooklyn is terribly underserved by hotels, but we need them in residential districts.

Particularly along Eastern Parkway, I believe a large hotel would be very successful and do wonders to revitalize the neighborhood.

Posted by: Polemicist at January 9, 2008 10:54 AM

A hotel near Prospect Park and the Botanic Gardens (which btw is on express subway lines not pokey local ones) would make more sense than further out in Gowanus. Hotels that are on 4th Ave near Park Slope amenities would be a draw, but the further away from those you get into Gowanus, like on 3rd Ave way south, it's a risk.

Posted by: guest at January 9, 2008 11:06 AM

Its much cheaper real estate 11:06 - with far fewer historic or commercial zoning regs.

Also a way aroung commercial only zoning in the area. Hotels today, condos tomorrow.

Posted by: guest at January 9, 2008 11:10 AM

the gowanus fast becoming one of my favorite places in the city.

it's like williamsburg 20 years ago.

Posted by: guest at January 9, 2008 11:16 AM

Hotels are not allowed in the area around Prospect Park. It's not an issue of cost. There once were several hotels on Eastern Parkway, but they have since been converted to apartments. The building at the corner of Underhill and Eastern Parkway used to be a hotel until it went bankrupt int he 1960s.

There are several underbuilt properties on Eastern Parkway - a zoning change that gives a bonus for hotel development would easily result in large scale hotel being constructed in the area.

Also, it's foolish to think the crappy hotels in Gowanus are being constructed for residential conversion. It won't happen. The reality is not all investors are looking for a quick cash payout from condos. For investors who want a long term income stream, hotels in Brooklyn are an excellent investment.

Posted by: Polemicist at January 9, 2008 11:20 AM

"300 rooms in a city of 2.5 million people"

Brooklyn is not a city but a large part of NYC. And NYC can use more hotel rooms as it can use more housing for residents. And hey do not all need to be over concentrated in small area of this city (midtown Manhattan).

Posted by: guest at January 9, 2008 11:22 AM

if i had the money, i'd open a hotel in the gowanus also.

that area has so much potential for growth, it's sick.

Posted by: guest at January 9, 2008 11:30 AM

11:22

In terms of the hotel market, it is a city in and of itself. The legal definition of the word "city" is not really relevant when you are looking at a particular real estate market.

Midtown is a different market 10+ miles away.

Hotels are concentrated in Midtown because it is an area that is 1) desirable and 2) the zoning allows for high-density hotels. Such areas are few and far between in the boroughs, thus you have few hotels.

Current zoning pretty much pushes hotels in either high-density office districts or industrial districts.

Posted by: Polemicist at January 9, 2008 11:53 AM

Four story economy hotel in a non-residential, warehouse district - Hello????

This will be a hot-sheet motel for cheating Park Slope Milfs and their craiglist hookups in no time.

It is amazing to me that the nearby neighborhoods protest virtually everything and yet here is something that could so easily become a nuisance and will offer nothing to the neighborhood in terms of aesthetics or amenities gets built without a peep.

Posted by: guest at January 9, 2008 12:01 PM

increased development in a warehouse and abanonded lot district is usually good news, 12:01.

i see a vacant parcel much more of a nuisance than a comfort inn.

just because you cheat on your wife, does not mean everyone else does.

Posted by: guest at January 9, 2008 12:09 PM

10+ miles to midtown? you must be traveling thru nj 1st.
Probably 5-6 miles.

Posted by: guest at January 9, 2008 12:13 PM

Historically, you've had two choices in the CG/CH area: pay through the nose for the Marriott downtown, or go with the Motor Lodge right next to the Battery Tunnel.

While I question the judgment of building a "Hotel le Bleu", there is definitely a market for hotel rooms in this area.

And for 12:01: A hotel in an underserved neighborhood is, in and of itself, an amenity. It's hard to get agitated when a vacant industrial lot is put to use as a hotel.

Posted by: guest at January 9, 2008 12:15 PM

12:15 & 12:09

The problem with your argument is two-fold - the lot wasn't vacant prior and the area wasnt/isnt under served by low-end motels - w/in a 5 block radius you have a Comfort Inn and a Holiday Inn Express.
The potential for this motel to become a nuisance/hourly motel is large and it just amazes me that the same groups that howl at condo's on 4th Ave, a bank on 5th Ave, high-rises in downtown or an arena over a railyard don't have a peep to say about an unneeded motel in an industrial/warehouse area. (lets not forget that prostitutes on 3rd Ave were not such an uncommon site a few years ago.)

Posted by: guest at January 9, 2008 12:26 PM

if you really and truly think that a major national chain like a comfort or holiday inn in the year 2008 (sandwiched between 2 multimillion dollar neighborhoods) is catering to the hourly rate set, you are quite dellusional.

you clearly don't know what you're talking about. hotel le bleu runs around 250 bucks a night and everytime i've walked by there since it opened, the parking lot was nearly full.

in fact, i called to ask for my parents to stay there in a couple weeks and the 2 nights i was looking for were sold out.

do some actual research before you spout nonsense.

Posted by: guest at January 9, 2008 12:35 PM

there is no difference between a vacant warehouse or a vacant lot, 12:26.

both are unused, sitting there, attracting the criminal element.

a hotel is a great service which helps make a neighborhood more vibrant.

if you'd rather have a vacant warehouse over a nice new shiny red roof inn filled with tourists, move to detroit.

Posted by: guest at January 9, 2008 12:38 PM

Anyone who thinks the building of crappy second rate hotels is a good thing is crazy. It is NOT better than empty lots becaus empty lots still have the potential to be bought by a developer who will build something decent. crappy hotels add nothing to aesthetics, street life etc. they will seal gowanus' as a dead zone if someone doesnt stop this.

Posted by: guest at January 9, 2008 12:42 PM

obviously you don't know the gowanus area very well, 12:42.

there are MORE than enough vacant lots and warehouses to go around.

if you think you're so smart, how bout you buy the lots and build something better.

i personally think the condos (which are already being built along 4th), restaurants and bars opening up all along 4th and these new hotels along with artist space is making for quite a nice developing and increasingly vibrant area.

you clearly never saw that area 5-10 years ago.

i'm guessing you just moved to nyc.

Posted by: guest at January 9, 2008 12:49 PM

12:13, you are right. For some reason, I was thinking of hotels around JFK, as it pertains to something I'm working on at the moment.

Still though, it's a different market. That was my point.

Posted by: Polemicist at January 9, 2008 1:09 PM

No I don't think that the Comfort Inn or Holiday Inn are currently "catering" to an hourly clientèle (but if you think that these motels arent doing a brisk business with cheating spouses then you are naive).

However the issue is that this new un-needed, and heretofore undisclosed "Economy chain" will become more of a 'hot sheet' spot then a tourist destination (see Red Hook Motel) and the irony that the groups that claim the end of the world with every new building over 6 stories are absolutely silent on this real possibility.

Posted by: guest at January 9, 2008 2:20 PM

phooey, 2:20.

the hotels currently down in this area are doing better than anyone expected. except probably the people who own them.

holiday inn is always sold out, comfort inn as well and hotel le bleu is doing quite well.

there is certainly more of a demand.

you are quite thick-headed.

Posted by: guest at January 9, 2008 2:35 PM

I know for a fact that the Holiday Inn is not always "sold out" - it is successful but it is far from 100% filled

Posted by: guest at January 9, 2008 2:40 PM

Hotel le Doom's rates dropped from over $400 before opening to about $219 now.

The place still appears largely deserted. Even over the holidays it looked pretty empty.

Hotels are needed, but the luxury route is the wrong way to go in this area.

Posted by: guest at January 9, 2008 2:58 PM

I really hope that this hotel fails.

I hate yuppies.

Brooklyn used to be so cool.

I miss the crackheads and crime rate.

I long for days of 2000+ murders.

Dinkins was our best mayor.

Rent control every NYC apartment.

I went to art school and deserve free housing.

Crown Heights is safe.

Posted by: guest at January 9, 2008 3:03 PM

There is a lack of hotel space in manhattan. Just logical to build them withiin a close commute.

Posted by: guest at January 9, 2008 7:02 PM

I was curious so I just checked the Hotel Le Bleu website. The web promotional rate for January 21st is $167. (I picked that day out of a hat.) That is quite a drop from the initial announced rates. I do agree that Brooklyn could use more hotels, but it does seem that expecting to book 300 plus rooms at a Gowanus hotel was reaching a bit...

Posted by: Carol Gardens at January 9, 2008 7:49 PM

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