Developers are planning to build a 10-story hotel on a narrow lot at 79 Eldridge St. Public records show an entity named “Eldridge Hotel LLC” purchased the 25 foot lot, located near Grand Street, for $5.3 million last month. Back on December 30, Forest Hills-based developer Osher Niyazov “pre-filed” for the 13,000 square foot project.
The commercial brokerage, Cushman & Wakefield, began marketing the development site in 2013. The property was sold by the estate of Shew Foo Chin. The purchaser is based in North Bergen, New Jersey. Niyazov is building a 98-room hotel in Mott Haven. The architectural firm handling the job appears to be Ellipses Design.
