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Ace Hotel Likely Coming to Downtown Brooklyn


Ace Hotel New York. (Ace Hotel New York website)
Ace Hotel New York. (Ace Hotel New York website)

GFI Capital Resources is close to sealing a deal with the Ace Hotel to open a new lodge under its brand a few blocks away from the Barclays Center in Downtown Brooklyn, Commercial Observer has learned.

Allen Gross, president and CEO of GFI Capital Resources, has nabbed a number of parcels on Bond Street, at the corner of Schermerhorn Street, in an off-market deal, and hopes to bring a trendy Ace Hotel to the site, sources with knowledge of the deal told CO. His equity partner in the deal was Spruce Capital, which now owns a majority stake in the development site.

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A couple of other hotels in the works on Schermerhorn Street include a 13-story EVEN Hotel at the intersection of Nevins Street and Holiday Inn Brooklyn Nevins Station, at 300 Schermerhorn Street, as CO previously reported.

“We think there’s still a lot of room in the market for additional hotels especially brands like Ace that come with a hospitality and nightlife component,” said Tucker Reed, president of the Downtown Brooklyn Partnership.

A hospitality specialist said the location is perfect for an Ace because of its proximity to the Barclays Center.

An active hotel developer, Mr. Gross is a partner in the Ace Hotel New York, at 20 West 29th Street.

GFI and Spruce declined to comment. Ace Hotel’s press office declined to comment saying, “We are looking at a number of new projects including some in New York City, but we don’t have anything to announce quite yet.”