Danny Meyer is crossing the Brooklyn Bridge.
Meyer’s Union Sq. Hospitality Group will open its first full-service Brooklyn restaurant on the historic Hotel Bossert in Brooklyn Heights. The restaurant will occupy 3,200-square-feet on the bottom ground at 98 Montague Road, the landmarked former lodge that’s being restored and redeveloped as condos.
The restaurant – from the corporate identified for Union Sq. Cafe, Gramercy Tavern, and the Trendy – is slated to open in 2028, based on a press launch.
The property’s journey has been lengthy and winding. The New York and Nashville-based developer SomeraRoad bought the constructing final yr for $100 million after it spent greater than a decade in growth limbo.The vendor was Seaside Level Capital, which took over the lodge from the Chetrit Group in February at a foreclosure auction, 9 months after the funding administration agency bought the notice towards the property.
Joseph Chetrit and David Bistricer bought the 14-story constructing from the Jehovah’s Witnesses in 2013 and promised to revive it to its former glory, together with including 78 visitor rooms, a restaurant and a rooftop bar. A yr later, renovations had been underway.
However plans bought delayed. In 2019, Chetrit purchased out Bistricer’s curiosity and secured a $112 million loan from Cantor Business Actual Property Lending. The mortgage was assigned to Wells Fargo a yr later, when Covid arrived in New York, and went into particular servicing in August 2020.
Chetrit defaulted on the mortgage in 2021, based on courtroom filings; Wells Fargo initiated a foreclosures final Could, claiming Chetrit owed over $126 million.
Lumber magnate Louis Bossert built the hotel in 1909; it later grew to become generally known as Brooklyn’s Waldorf-Astoria. The Jehovah’s Witnesses purchased the constructing in 1983.
SomeraRoad, based in 2016 by Brooklyn resident Ian Ross, is not any stranger to sprucing up older properties. In 2022, the agency purchased a commercial condo unit above the favored energy lunch hangout Harry’s at 1 Hanover Sq. for $6 million and transformed it to boutique workplaces.
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