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Former Extell Hotel Site Being Developed Into Condos

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The Hudson Square site where Extell Development's Gary Barnett had once planned to build a 35-story luxury hotel is now going to be host to 13 stories of condos instead. Barnett put his 95-year leasehold on the site (set to expire in 2106) on the market for $45 million in June of 2011, a week after defaulting on his $375 million loan on The Belnord. This June, it finally sold to investment firm Angelo, Gordon & Co. for $52 million, and now new plans have been filed with the Department of Building for a 13-story, 79-unit building courtesy of architects Beyer Blinder Belle. The building will rise to 185 feet and total 115,296 square feet, although the site would allow for 181,535 square feet (the hotel was going to be 181,000). According to DOB permits, it will feature a children's play room, fitness room, swimming pool, and steam room in the basement, and a greenhouse on the ground floor. The hotel plans also called for a basement pool, so it's possible that aspects of the design carried over.
· Extell sells $52M stake in Hudson Square site leasehold [The Real Deal]