180 Ludlow Changing Hands?
According to Curbed, the owner of the terminally-stalled high rise development, 180 Ludlow, has a deal in the works to sell the “concrete skeleton” to another developer:
The credit crunch casualty is, rumor has it, being bought by BD Hotels, the powerful partnership of boutique hotel investors Richard Born and Ira Drukier that just snatched up an old Salvation Army building in Murray Hill. The twosome is also involved in the Maritime, Chambers, Greenwich, Jane and Bowery hotels, and the Ludlow could soon be on that list. Our tipster tells us the deal is in contract pending resolution of a legal battle between the Hotel Ludlow developers and the owners of 178 Ludlow Street, aka Max Fish, over damages during construction. A BD spokesperson told Curbed nothing has been finalized so it’s premature to comment, and we’re waiting to hear back from Hotel Ludlow developers S&H Equities. BD Hotels has some experience in the area taking over troubled buildings and making them hot properties (see the Bowery Hotel), so The Hotel on Rivington and Thompson LES should be watching their backs.
180 Ludlow’s owner, Serge Hoyda, had been trying to get the city to grant him a variance, allowing the converson of what was supposed to be a 20-story hotel into a rental building. We reported on his pleas before the Board of Standards and Appeals early this year.
The stalled building has been the source of much angst in the neighborhood — from residents who are sick of an eyesore and from business owners who say the idled construction site has scared away customers.