Having been approved for redevelopment as a hostel/hotel since 2010, the historic Joseph D. Grant Building at 1095 Market Street has been purchased by New York real estate developer Synapse Capital. Synapse plans to partner with London-based Yotel to build 200 guest “cabins” within the building at the corner of Market and Seventh Street, cabins which will average less than 200 square feet apiece.
Yotel’s tag line is: “A First class experience at an affordable price.” A peek inside one of their cabins in New York:
Clad in pressed brick and brownstone terra cotta, but with a steel frame beneath, the eight-story Grant Building was designed by Bay Area architect Newton Tharp and built in 1904. The building survived the Great Quake and fire in 1906 and has sat vacant since 2011, its redevelopment waylaid by the Great Recession.
Approvals for the building’s conversion included a rehabilitation and reconstruction of the building’s historic facade. And the original plans did include two rooftop terraces totaling 8,500 square feet.