CLINTON HILL – A new five-story, 120-room hotel will soon replace a one-story warehouse located at 11 Grand Avenue, across from the Brooklyn Navy Yard.
Hans Georg Näder, a German billionaire who owns the Otto Bock Group, a prosthetics manufacturing company, plans to build the 43,000-square-foot hotel with a restaurant and a retail space on the ground level, The Real Deal reports. Permits were filed with the NYC Department of Buildings for the project late last week.
Näder purchased 11 Grand Avenue along with three other one-story industrial properties—278 Flushing Ave., 15 Grand Ave., and 17 Grand Ave., from The Manhattes Group for $7 million in 2014, according to Curbed.
When it launches, the new hotel will be able to accommodate visitors to the expanding Brooklyn Navy Yard located across Flushing Avenue. The Brooklyn Navy Yard Development Corporation announced earlier this year a $2.5 billion redevelopment plan to add more than 5.1 million square feet of manufacturing, creative, and innovation space to the Navy Yard, creating more than 10,000 new jobs.
In May, the Spanish-language public broadcasting network, HITN, signed a ten-year lease to expand its current space at the Navy Yard’s Building 292 and co-working company WeWork will move into a 220,000-square-foot, six-story space in the Dock 72 building this Fall.
In June, workers broke ground at 399 Sands Street, a new building that will feature five floors of manufacturing and creative space as well as a four-story parking garage for customers of the highly anticipated Wegmans supermarket expected to open in 2019.