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Hotel for Schermerhorn - Brooklyn Paper

Hotel for Schermerhorn

Wow! A hotel company just paid $12 million for this parking lot on Schermerhorn Street in Downtown Brooklyn.
Massey Knakal Realty Services

Tyler Hospitality, the firm building a 32-story Staybridge Suites motel in Times Square, will bring a Holiday Inn to Schermerhorn Street, a thoroughfare that has recently seen a wave of new investment.

The firm recently dropped $11.9 million on an old parking lot between Nevins and Bond streets, a slowly improving block in an otherwise rapidly developing area.

Sanjeev Mehta, a partner in the development company, told The Brooklyn Paper that the 247-room, 14-story hotel would be “full service” with a restaurant and bar.

Mehta’s plan is the latest addition to Brooklyn’s room boom, which has brought hundreds of new hotel rooms to the borough in the past few years. Joe Chan, the president of the Downtown Brooklyn Partnership, estimates that another 1,803 rooms will be built by 2012.

Mehta is moving forward with his plan despite a recent statement by Sam Chang, the magnet behind the Holiday Inn Express on Union Street in Park Slope and the Comfort Inn on nearby Baltic Street in Boerum Hill, that Brooklyn’s hotel boom was petering out.

“I definitely stopped buying in Brooklyn,” said Chang told a crowded room of business types.

Mehta said he agrees with Chang — but only after he gets his rooms built.

After that, he said, hotel “demand will be met.”

Mehta says he’ll start building his spring, and the hotel should be complete by late 2009, early 2010.

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