The company is known for building residential buildings in the trendy neighborhoods of Williamsburg and Cobble Hill in Brooklyn.
The new hotel will contain 210 rooms over 119,722 square feet of space, with 14 hotel rooms on the cellar level, 28 hotel rooms on the first floor, and between 49 and 67 hotel rooms each on the second through fifth floors.
It will have 18,000-square-feet of retail space, a fitness center, meeting rooms, a lobby bar, a breakfast area and 77 underground parking spaces.
The hotel is being designed by Gene Kaufman, an architect based near Union Square in Manhattan.
The new hotel will be located just a few blocks from Kaufmann Astoria Studios and the Museum of the Moving Image, along with a plethora of retailers along the Steinway Street shopping corridor.
The industrial neighborhood has become a hot spot for budget-friendly hotels built in the last decade.
The site is just blocks from an existing hotel, the Paper Factory at 36th Street and 37th Avenue, and will be served by the E, M and R trains at the 36th Street station.
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