Rendering of the two proposed buildings, a hotel (white building on the left) and a residential building (orange and brown building on the right). Image Credit: NYC CPC
The proposed hotel would be located near several cultural, academic and medical institutions within the Bronx. On March 3, 2021, the City Planning Commission held a public hearing for an application to build a hotel and a residential building on East 188th Street between Arthur Avenue and Hughes Avenue. Currently, the site consists of low-density residential and commercial buildings and a funeral home; none of the residential units are currently rent stabilized, and the commercial tenants are being assisted in relocating. (read more…)
Image credit: Real Estate Board of New York.
New law would hinder hotel conversions to residential use. On June 2, 2015, New York City adopted Local Law 50, placing a prohibition on owners of hotels with 150 or more sleeping units from converting more than 20 percent of their hotel space to full-time residential uses. The law is based on City findings that such conversions were adversely impacting the City’s multi-billion-dollar tourism industry, as well as hotel employment. The purpose of the prohibition is to allow the City to conduct a study of the impacts that such conversions have on these industries. Although the law provides that affected hotel owners can apply on an individual basis for waivers with the Board of Standards and Appeals (BSA), under the law the BSA can award waivers only to “the minimum extent necessary” to afford relief. (read more…)
103 Waverly Place in Manhattan. Image credit: CityLaw.
Hotel claimed tax credit for purchases of continental breakfasts provided to guests. The Washington Square Hotel LLC, located at 103 Waverly Place, Manhattan, purchased continental breakfasts from Café C–III, a vendor located on the hotel’s premises, and provided the continental breakfasts to guests. The hotel did not charge their guests separately for breakfasts, nor did the hotel give guests an option to decline breakfasts in return for a lower rate for a hotel room. (read more…)
