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Development Team Tops Out on DT Brooklyn Hotel

Executives from GFI Capital, Broadway Construction Group and Spruce Capital recently celebrated the topping out of 61 Bond St., a 13-story hotel and retail property in Downtown Brooklyn. “We waited for the right time to develop a project that will bring to the neighborhood a much-needed new lifestyle hotel option, and that time is now,” said GFI Capital CEO Allen Gross.

The development is expected to be complete in the fall of 2019, with 287 guestrooms and approximately 5,500 square feet of retail. It’s located near the Barclays Center and nine subway lines.

In fact, the project’s location on top of a subway line posed a challenge. “Vibrations from public transit can be felt even at a distance, so being directly on top of a city subway line is normally highly undesirable,” said BCG president Everard Martin. “However, our experienced team was able to isolate the building from all vibrations.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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