Brooklyn’s Former Hotel Bossert Set to Become Ritz-Carlton Luxury Residences

The historic former Hotel Bossert in Brooklyn Heights — once home to the victory party for the Brooklyn Dodgers’ lone World Series win — will now become Ritz-Carlton-branded luxury condos under new ownership.

Developer SomeraRoad, which acquired the 14-story, 282-key hotel at 98 Montague Street for $100 million in May 2025, announced Tuesday alongside Marriott International that it will redevelop the building into the Ritz-Carlton Residences, Brooklyn Heights.

“The Hotel Bossert has long stood as one of Brooklyn’s most iconic buildings, and we are honored to help write its next chapter,” Ian Ross, founder and managing principal of SomeraRoad, said in a statement. “We are thoughtfully restoring this historic property while creating a residential experience that honors the Bossert’s rich legacy and celebrates the enduring appeal of Brooklyn Heights. We believe this project will become Brooklyn’s premier residential address and stand among the finest new residential offerings in New York City.”

A spokesperson for SomeraRoad declined to provide information on the number of residential units planned for the new development, but in a 5 Questions interview with Commercial Observer in December 2025, Ross said the project will “be 70 luxury, top-of-market, insanely amenitized, branded condos.”

The new project will also offer hospitality services and amenities focused on wellness, leisure and entertainment. 

Plus, residents will be able to dine at a brand-new restaurant coming to the base of the hotel redevelopment. In May, Danny Meyer’s Union Square Hospitality Group signed a 3,200-square-foot lease to open a new restaurant at the property, though details about the future eatery are unclear.

SomeraRoad, which has more than 130 investments in over 50 markets across the U.S., bought the former hotel stretching the length of Hicks Street between Montague and Remsen streets from former lender Beach Point Capital. Beach Point took control of the site from Joseph Chetrit’s Chetrit Group in February 2025 in a court-ordered foreclosure action.

Chetrit, which had bought the property in a joint venture in 2012  for $81 million, first defaulted on the loan on the former Hotel Bossert in May 2022, and the site eventually went into Uniform Commercial Code foreclosure by 2024.

Now that Beach Point has handed the property over to SomeraRoad, plans for the Ritz-Carlton project are in full swing. Construction is expected to begin later this year, with an anticipated completion date in 2029. Residential brokerage SERHANT is leading the sales and marketing.

SomeraRoad said it plans to honor the rich architecture and history of the former Hotel Bossert, which opened in 1909. While the hotel welcomed celebrities and business leaders from across the world, it might be most known for hosting the 1955 celebration after the Brooklyn Dodgers defeated the New York Yankees in the World Series.

Isabelle Durso can be reached at idurso@commercialobserver.com.