Low-Rise Hotels to be Razed for Hollywood High-Rise – Robert Khodadadian

The Condra Group hopes to demolish a block and a half of Hollywood low-rise hotels to make way for an 18-story mixed-use project. The group hopes to take advantage of a new state law which will allow the developer to build taller buildings in exchange for including affordable housing in the mix.

Located along the city’s famed boardwalk along the beach, the property currently has 123 hotel rooms, including the Neptune Hollywood Beach Hotel, the Hollywood Beach Seaside, and the Casa Pellegrino Boutique Hotel. The developer has it under contract from various owners.

The project would total 628,191 square feet with a residential building of 18 stories at the corner of Ocean Boulevard and Oklahoma Street, an eight-story parking garage with some retail on the ground floor to the north across McKinley Street, and a two-story beach club with restaurants and a rooftop pool on Surf Road.

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The Condra Group hopes to demolish a block and a half of Hollywood low-rise hotels to make way for an 18-story mixed-use project. The group hopes to take advantage of a new state law which will allow the developer to build taller buildings in exchange for including affordable housing in the mix. Located along the …
The post Low-Rise Hotels to be Razed for Hollywood High-Rise appeared first on Connect CRE.   

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate