The Hotel East Houston over at Eldridge Street is for sale, according to an item in citybiz Real Estate. Price tag: $21 million.
Per one of the real-estate types marketing the place:
"The building's rooftop area and basement level could easily accommodate a restaurant, bar, lounge or a combination of all three, and preliminary architectural designs for such space have been completed."
As BoweryBoogie notes, "Despite the umpteen hotels currently in the development pipeline for the Lower East Side (Orchard Street in particular), it’s still not completely the greatest economic climate for pricey inns."
But we'll keep building — and selling — them anyway...
2 comments:
Was that the building with a pet supply store on the ground floor?
Who's in charge of such disasterous City planning? 10 years ago we didn't have enough hotels in the area, so some City idiot just allowed everyone to build them. Was there no one to say "that's enough!" about 5 years ago? Now, there are more hotel rooms than can ever be filled, so scammers will spend the next 20 years just reselling these hotels that will never turn a profit for anyone. Gradually, they will be turned into condos, then into rentals, and finally into college dorms. Why do we have to suffer through such horrible planning?
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