10-Story Hotel in the Works for Vacant Eldridge Street Lot

Posted on: March 23rd, 2016 at 5:18 am by
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Looks like the Lower East Side is getting another hotel. It appears the long-vacant lot at 79 Eldridge Street is the targeted parcel, and will soon sprout a ten-story lodge.

The private parking lot was on the open market for three years before a taker could be found. Property records indicate that the corporate shell “Eldridge Hotel LLC” shelled out $5.3 million for the parcel last month, which is one million higher than the last asking price.

Osher Niyazov, who’s also opening a hotel in the South Bronx, actually pre-filed plans for the development before the transaction was finalized. According to the paperwork submitted to the Department of Buildings at the end of December, the proposed operation boasts 37 rooms across 13,157 square-feet of space. Ellipses Design is the architect of record.

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