The owners of a hotel and residential tower project in Brooklyn’s hip Williamsburg neighborhood have filed for bankruptcy, the latest blow to New York’s struggling hospitality and commercial real estate sectors, Bloomberg News reported. The chapter 11 court filing covers a planned 26-story tower at 159 Broadway that includes apartments and a 235-room hotel across the street from the legendary Peter Luger Steakhouse. It was slated to open in the second half of 2021. The owners, 159 Broadway Member LLC and WB Bridge Hotel LLC, listed assets and liabilities of $10 million to $50 million in a petition filed in Manhattan. 159 Broadway Member also listed the owner of the newly bankrupt Tillary Hotel in Brooklyn as an affiliate. The Tillary sought court protection from its creditors last week.
