Major Construction Resumes at Long-Stagnant ‘Allen Street Hotel’

Posted on: September 19th, 2017 at 5:07 am by

Take a look at the Allen Street Hotel, now renamed The Allen. Black netting is slowly crawling up the facade as major construction work is now reactivated. Yes, those words were mentioned in the same breath as this development.

Make no mistake, either. This is a watershed event in the life of this zombie development. It’s the first real progress onsite since February 2011.

There are some additional details to share about the sixteen-story, 98-key lodge. Assuming the necessary slate approvals go through, there will also be “multiple restaurant outlets” onsite, including a rooftop cocktail bar and a restaurant on the corner of Allen and Rivington that includes a second-floor terrace and hotel restaurant/bar venue.

Below is an updated rendering of The Allen.

Photo: Kalimian Equities

We are told that the development remains on track for mid-2018 delivery, as far fetched as that sounds. For those keeping score, upon launch, it will have been ten years since the project first began. Ten fuckin’ years, if you can believe it.

The Allen Street Hotel is one of the last holdovers of the pre-meltdown era that remains incomplete. You’ll recall that the building snuck onto the scene in the eleventh hour before the 2008 zoning took hold, and slyly ascended sixteen stories. Three years later, the now-former owner D.A.B. Group allegedly ceased the necessary mortgage payments, and the property slipped into foreclosure.

Then in 2016, eight years after the first concrete pours, the properties comprising 139-141 Orchard Street sold in auction to real estate tycoon Morris Moinian and Morry Kalimian of Elk Investors. The duo paid $30.75 million for the incomplete development. Moinian is no longer part of the project, though, leaving Kalimian as sole developer.

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