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The completed yet never opened Flatiron Hotel (1141 Broadway at 26th Street) is now at the center of a lawsuit filed by a long Island bank allegedly against the hotel’s loan guarantors AND a company related to the rumored potential bidder for the hotel, Robert “Toshi” Chan, according to a story in the Real Deal.

Read all the details at http://therealdeal.com/newyork/articles/flatiron-hotel-at-1141-broadway-faces-foreclosure-amid-talks-with-robert-toshi-chan.

The Flatiron Hotel was finished in April and ready for occupancy…but immediately put on the market for sale. It is said to feature 64 rooms, a lobby with a 20,000 gallon aquarium (see photo left), space for a restaurant, and has a 200 square foot rooftop ready for a lounge.

Originally it appeared that the hotel would be managed by Meyer Jabara, but the loan guarantors seem to be unrelated to that company. The location is prime considering the continued growth of the Madison Square Park area. The rooms are said to be delivered turnkey with ‘jacuzzi bath or Swiss rainfall showers, surround sound entertainment systems, LCD tvs,  marble bathrooms’, and the hotel apparently can be ready to open within 30 days of closing.

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