A Hotel Next to BAM?

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    A listing just hit the market for 37 Lafayette, a four-story apartment building with air rights in tow as well as “preliminary plans for a boutique hotel that is eco friendly with a green construction.” The plans call for a 56-room hotel and the price tag is $5,560,000. While this listing is new, the idea of selling the property with hotel plans dates back a few years; the building last traded in late 2007 for $3,400,000, according to Property Shark. Even though a hotel across the street from BAM seems like a decent bet in the long term, is financing out there for a project like this?
    37 Lafayette Avenue [StreetEasy] GMAP

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