Latest news with #ItalianRenaissanceRevival-style
New York Post
6 days ago
- Business
- New York Post
The ‘Waldorf-Astoria of Brooklyn' finally has a future — after years of failed renovation attempts
The Hotel Bossert, a former luxury hotel in Brooklyn Heights, has been acquired by real estate firm SomeraRoad for $100 million — and it's going residential. The Italian Renaissance Revival-style building is an icon of Montague Street. The locally beloved landmark, where the Brooklyn Dodgers celebrated their only World Series championship in 1955, languished through more than a decade of stop-start renovations before it was recently snapped up by SomeraRoad, the Brooklyn Eagle reported. 6 The Hotel Bossert sits on the corner of Montague and Hicks streets. Dylan Wilson 6 The hotel in its heyday housed several Brooklyn Dodgers and happening parties in its top-floor bar. Getty Images The years of false starts and pesky scaffolding began after the former hotel's 2012 purchase by developers Joseph Chetrit and David Bistricer for $81 million. The previous owners planned to reopen the relic as a boutique hotel with 302 rooms, according to the Eagle. Their renovation efforts repeatedly stalled, however. Chetrit bought out Bistricer in 2019, the Real Deal reported. The saga ended earlier this year with $177 million of debt and a foreclosure auction. Beach Point Capital acquired the decaying hotel from the Chetrit Group at auction for $999,000. SomeraRoad purchased the property from Beach Point Capital, with the latter providing a $71 million mortgage, according to the Real Deal. The 14-story Hotel Bossert was constructed as an apartment hotel in 1909 by lumber magnate Louis Bossert. Its nautical-themed Marine Roof Supper Club was the toast of the town in its mid-20th century heyday, known for unbeatable Manhattan views and live music. 6 The hotel entrance in 1958. Getty Images 6 The hotel was known as the Waldorf-Astoria of Brooklyn. Getty Images 6 The hotel lobby, pictured in 2008. Dylan Wilson The Jehovah's Witnesses took over the building in 1983, and their restoration efforts on the building were widely praised, Curbed reported. The group sold the building to Bossert and Chetrit in 2012 amid a massive property selloff when they left Brooklyn for upstate New York. A 2019 New York Magazine story chronicled the experiences of the former hotel's five remaining rent-stabilized residents still living in the near-vacant building. Now, the grand 116-year-old hotel plans to welcome residents in one of Brooklyn's most in-demand areas. 6 Brooklyn Heights' hot real estate market makes the hotel's residential future especially enticing. Google Earth The Hotel Bossert's new owners, SomeraRoad, boast a track record of adaptive reuse projects — the firm gained attention for its successful restoration of the former India House building at One Hanover Square in 2023. Its founder, Ian Ross, is a Brooklyn resident. 'SomeraRoad plans to honor the property's rich history and restore and reopen the building as residences,' the company wrote in a statement.
Forbes
25-03-2025
- Business
- Forbes
Inside A $6 Million Landmarked NYC Residence With Museum-Quality Art
The living room in Residence 5N. New York City has a fascinating architectural history, and 108 Leonard in New York's Tribeca neighborhood is no exception. The building occupies the entire block and was constructed in two phases: the eastern part of the structure was built from 1894 to 1896 for the New York Life Insurance Company, while the western part, which includes a three-story clock tower, was constructed from 1896 to 1898 and completed by renowned architectural firm McKim, Mead and White. Deemed a landmark in 1987, the building's Italian Renaissance Revival-style facade is primarily made of white Tuckahoe marble, while the southern elevation features brick and terracotta. Not only is the exterior landmarked, but so are many elements of the interiors. A kitchen in the recently sold Residence 14E. The historic Tribeca landmark at 108 Leonard is now home to 167 well-appointed residences restored and redesigned by Jeffrey Beers International. Homes range from two to five bedrooms and are priced from $3.5 million to more than $24 million. Of the several homes for sale in the building, Residence 5N is listed for $6.1 million and offers both modern living alongside exceptionally ornate, detailed moldings and carved pilasters. Residence 5N spans 2,413 square feet and has three bedrooms, three bathrooms, and one powder room. The living room features landmarked walls, beautiful crown moldings, and other century-old details. The living room is like a work of art with ornate moldings, carved mahogany wood trim along the ceiling, and beautiful oversized arched windows on nearly every wall. Ceilings soar past 15 feet, making each room feel exceptionally spacious. As far as New York City residences go, the scale and volume are unmatched. Developer Elad Group is further enhancing the space with art by Gene Hedge and Calvert Coggleshell, with pieces on loan from New York gallery Lincoln Glenn. Lincoln Glenn also curated the art in the recently sold Residence 14E. The artwork in Residence 5N was curated by Lincoln Glenn. 'Bringing the works of Calvert Coggeshall and Gene Hedge to 108 Leonard felt like a natural fit,' says Lincoln Glenn co-founder Doug Gold. 'Both artists left a lasting mark on New York City and the art world, much like this landmarked building. Lincoln Glenn has a unique relationship with Elad Group to bring their residences to life through thoughtfully curated art." Tribeca has become somewhat of an arts hub over the past decade, with many galleries moving permanently into the area. It makes sense, then, that a focus on art within a residence might appeal to buyers within the neighborhood. Some New York residential buildings even offer art classes, while developers across the country use high-end art to entice potential buyers. As for other features within Residence 5N, there is wide-plank oak flooring throughout, Scavolini kitchen cabinetry with a Calacatta marble countertop and backsplash, Miele appliances, Fantini polished chrome fixtures in the bathrooms, and other types of ultra-luxe marbles and finishes. The boutique building feels like a luxury hotel with a drive-in motor court, valet parking, three separate lobbies, and more than 20,000 square feet of wellness-focused amenities. There's an indoor pool, roof gardens, an entertainment lounge, chef's kitchen, wine cellar, children's playroom, and a grand marble-clad lobby.
