The forever-Havisham hotel project 139 Orchard Street in the Lower East Side could finally be reviving.
A Manhattan Supreme Court judge has given a court-appointed receiver the authority to allow the re-launch of construction at the site, The Real Deal reported. Attorney Simon Miller, designated as the 139 Orchard receiver, confirmed with The Real Deal that limited construction will start again for the project after he meets with officials from the Department of Buildings.
The city department will be sending inspectors to the halted development over the next few days.
Back in 2008, the art gallery at the site was torn down to make way for a new hotel, Bowery Boogie reported. Developer DAB Group had plans for a 16-story Allen Street Hotel, and the building rocketed to its full height from late 2010 to 2011. However, as Bowery Boogie holds forth, “it was to be just another case of hurry up and wait, for a financial shitstorm was waiting in the wings.”
Misrahi Realty put the unfinished property on the market for $39 million in cash, or $398,000 per room. In July 2011, DAB Group was slapped with a foreclosure suit, after the loan was acquired by Manhattan-based Maverick Real Estate Partners.
When we were putting together our interactive map of active Lower East Side construction sites last month, we noticed lights on inside the 16-story shell. As we pressed our camera lens to dirty plastic, a clump of Manhattanites sailed by.
“Can you imagine, they might actually finish the Orchard Street hotel someday,” one said.
“And then we won’t be able to get drinks at the bar, because it’ll be too crowded,” another said, before the group sauntered off into the muggy June 27th afternoon.
Here we go, from Allen Street:
View from Orchard Street: