17 John Cotel

Daily Link Fix

cobble hill, trader joe's, Battle of Brooklyn, general george washington
  • Have you ever noticed the flag atop Trader Joe’s in Cobble Hill? Here’s the reason why the chain store flies the flag. [DNAinfo]
  • Feeding your suburban-mall-food craving, Focus Brands (parent company to Carvel, Cinnabon and Auntie Anne’s) will now be delivering in the city starting this week. [CNN Money]
  • A timeline of how Empire Stores went from a cargo warehouse in 1868 to the present development site. [Brownstoner]
  • For their “Stats and the City 2015” series, Crain’s looks at “the mother of all megaprojects,” Hudson Yards [Crain’s]
  • With projects like +Pool and 17 John Cotel, how does crowdfunding play into architecture? [ArchDaily]
  • This sleek portable desk by Baine & Fricker comes with its own wheels for easy transportation. [ELLE Decoration]

Images: Cobble Hill’s Trader Joe’s flag via Google Maps (L); Cinnabon’s classic roll via Wikipedia (R)

Financial District, Hotels, New Developments

17John Cotel, 17 John Street, crowdsourced hotel, Prodigy Network

Back in June, we took a look at the winning designs for Prodigy Network’s 17John ‘Cotel’ (collaborative + hotel = cotel), the city’s first crowdsourced hotel and the world’s first collaborative hotel. Now, the real estate crowdfunding startup has closed on the 15-story rental building at 17 John Street for $85.3 million, $25 million of which came from crowdfunded equity. Additional financing came from Deutsche Bank and another institutional investor. The property will be transformed into a 23-story, 191-unit extended-stay hotel, designed for the next generation of business traveler.

More on the first-of-its-kind project in NYC