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 Avenue, the landmarked former resort that’s being restored and redeveloped as condos.
The restaurant – from the corporate recognized for Union Sq. Cafe, Gramercy Tavern, and the Trendy – is slated to open in 2028, in keeping with 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 improvement limbo.The vendor was Seaside Level Capital, which took over the resort from the Chetrit Group in February at a foreclosure auction, 9 months after the funding administration agency bought the notice in opposition to 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 have 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, in keeping with court docket 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 turned referred to as Brooklyn’s Waldorf-Astoria. The Jehovah’s Witnesses purchased the constructing in 1983.
SomeraRoad, based in 2016 by Brooklyn resident Ian Ross, isn’t 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 places of work.
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