GFI Development and Spruce Capital have topped out 61 Bond Street, a 13-story hotel and retail property in Downtown Brooklyn.
Located at 252 Schermerhorn Street), the development, which is expected to be complete in the fall of 2019, will be 178,000 s/f and comprise 287 guestrooms and 5,500 s/fof retail space, including a restaurant and bar.
“As Downtown Brooklyn and its adjacent neighborhoods experienced rapid growth in recent years, the parking lot at the corner of Bond and Schermerhorn remained untouched,” said, Allen Gross, CEO of GFI Capital Resources Group. “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. We are very pleased and excited to celebrate the topping out of a building that we believe will become a beloved part of the fabric of Brooklyn and its skyline.”
Executives from Broadway Construction Group joined the topping out celebration. The general contractor said 61 Bond Street’s location directly on top of a subway line presented a unique 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,” explained Everard Martin, President of Broadway Construction Group.
“However, our experienced team was able to isolate the building from all vibrations, and create a structure that will provide tranquility and comfort to the guests who will stay here.”