By Holly Dutton
Gowanus is getting another new development added to the list of growing projects – this time it’s a hotel.
Massey Knakal Capital Services just closed a $9,608,000 ground-up construction loan, arranged jointly by Bruce Whipple and
Roger Kapsalis of Massey Knakal for a boutique hotel near the Gowanus Canal.
The senior construction loan was financed in along with an SBA 504 interim loan to build a 78-key Choice Ascend hotel.
“The new hotel will add to the growing hospitality market in Gowanus,” said Kapsalis.
Gowanus already has a handful of similar hotels, including a Super 8, Holiday Inn Express and La Quinta.