The former Hotel Bossert in Brooklyn Heights, once the venue for the Brooklyn Dodgers' victory celebration after their sole World Series win, is being transformed into luxurious Ritz-Carlton branded condominiums under new ownership. The developer SomeraRoad, which acquired the 14-storey, 282-room building at 98 Montague Street in May 2025 for US$100 million, announced the conversion into The Ritz-Carlton Residences, Brooklyn Heights, on Tuesday, together with Marriott International.
Ian Ross, Founder and Managing Partner of SomeraRoad, commented in a statement: “The Hotel Bossert has long been regarded as one of Brooklyn’s most iconic buildings, and it is an honour to help shape its next chapter.” He emphasised that they are carefully restoring this historic property while creating a residential experience that honours the Bossert’s rich heritage and celebrates the enduring appeal of Brooklyn Heights. This project will become Brooklyn's premier residential address and rank among the finest new residential offerings in New York City.
A SomeraRoad spokesperson declined to provide details on the number of planned residential units. However, Ross had stated in an interview with Commercial Observer in December 2025 that the project would comprise 70 luxurious, market-leading, extremely well-appointed branded condominiums. The new project will also offer comprehensive hospitality services and amenities focused on wellness, leisure and entertainment. Furthermore, residents will have a new restaurant on the ground floor of the hotel conversion. In May, Danny Meyer's Union Square Hospitality Group signed a 3,200 square foot lease for a new restaurant in the property, though details about the future dining concept are still unclear.
SomeraRoad, a company with over 130 investments in more than 50 markets across the US, acquired the former hotel, which spans the length of Hicks Street between Montague and Remsen Streets, from previous lender Beach Point Capital. Beach Point had taken control of the property from Joseph Chetrit's Chetrit Group in February 2025 through a court-ordered foreclosure. The Chetrit Group, which acquired the property in 2012 in a joint venture for US$81 million, first defaulted on loan repayments for the former Hotel Bossert in May 2022, leading to the Uniform Commercial Code foreclosure in 2024.
With Beach Point having handed over the property to SomeraRoad, plans for the Ritz-Carlton project are in full swing. Construction is expected to commence later this year, with completion projected for 2029. Marketing and sales will be managed by the residential brokerage firm SERHANT. SomeraRoad has announced its intention to honour the rich architecture and history of the former Hotel Bossert, which opened in 1909. The hotel once hosted celebrities and businesspeople from around the world and is perhaps best known for hosting the celebrations in 1955 after the Brooklyn Dodgers defeated the New York Yankees in the World Series.
