More than half of the 5,000 new hotel rooms once planned for Brooklyn may never see the light of day because of the nation's dwindling economy, a top industry expert says.B'KLYN INN FOR TROUBLE
Sean Hennessey, CEO of Lodging Advisors, said that of the roughly 25 borough hotel projects in the pipeline six months ago only seven will be completed within the next three years. The rest, he said, are likely dead or in limbo indefinitely.
The 25 projects were expected to bring up to 5,000 new rooms, but Hennessey estimated that only about 2,000 of these units would be completed.
Photo from the Real Deal
4 comments:
That is easy.
Guest worker barracks.
Towering monuments to city planning (thank you Penny), the community board (thank you George), clueless civic leaders over their head (than you Jerry) and a passive head up their ass community preservation community (thank you QCC, HDC, ETC ETC)
CB1 the community board from hell!
Can't wait for all that hot overseas money to start buying the units in those buildings in LIC and move in six or eight people at a clip.
Right....converted into SROs (maybe sans bedbugs)!
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