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Denied a Flip, Fort Greene Apts. Buyer Will Build Hotel Herself

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Gabriela Tubella bought the four-story apartment building at 37 Lafayette Avenue in 2007 for $3.7 million, and repackaged the property with air rights and a hotel business plan that she hoped to sell to another interested party for $5.56 million. Unable to find a buyer after a few price chops, Tubella removed the building from the market and is now going ahead with putting up the hotel across the street from the Brooklyn Academy of Music herself. "It was a difficult time, but now we see some light ahead. Things are coming along," she told The Local.

The four-story, 4,520-square-foot apartment building that Tubella purchased in 2007 is now torn down. In its place, the new hotelier is planning a 56-room, 17,275-square foot boutique hotel called Hotel Felix—the address is on Lafayette Avenue and St. Felix Place—that will go up in two phases. The first phase involves opening a ground floor restaurant, and then the hotel will be built on top of that in the second phase.
· Hotel Across From BAM Moves Forward [NYT]
· $5.56 Million DoBro Apartment Building Wants to be a Hotel [CurbedNY]