Ace Hotel Rumored for Downtown Brooklyn

Aces? Photo: Carlos Felipe Pardo/Flickr

Commercial Observer hears that GFI Capital Resources Group, which is bringing an Ace Hotel to the former Salvation Army Chinatown Shelter on the Bowery and is funding the 287-room hotel at the palatial 5 Beekman Street site, is working on a deal to secure “a number of parcels” near the corner of Bond and Schermerhorn streets in Brooklyn. Representatives from GFI and equity partner Spruce Capital declined to comment, and a representative for the Ace said they are “looking at a number” of new projects but “don’t have anything to announce quite yet.” [Commercial Observer, Related]