The world’s tallest modular-construction hotel was created to rise 26 stories over Manhattan. The guest rooms were built in a Polish factory and arrived fully finished in New York, where they would be stacked in a matter of weeks.
Instead, more than 100 premade hotel rooms have spent months marooned on a dock in Brooklyn, covered in waterproof membranes to shield them from rain. The developers—who started off in the fashion-accessory business before becoming hoteliers—initially said they hoped to open the 360-foot-tall hotel by the end of last year. But Covid-19 upended those plans, causing construction to grind to a halt last spring and leaving a foundation but not much else. More than a dozen contractors have filed liens against the property over unpaid pills, public records show.
The ambitious modular hotel’s future now looks uncertain. The owner is trying to raise additional funding to finish the roughly $80 million project, according to a person familiar with the matter. That is proving difficult at a time when many lenders are shying away from hotels, especially in big cities, as the lodging industry continues to suffer from a lack of corporate travel.
A hotel? Manhattan hotels are already empty 😂
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Sounds expensive.
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