Author: Steven Hidary

Hidrock announced the acquisition of 182 Flatbush Avenue for $7 million. The property is located directly across from the Barclays Center in Park Slope. The stand-alone building features 4,791 square feet with 196 square feet of total wraparound frontage. A multi-million dollar renovation of the asset is being planned.

Hidrock Properties CEO Abie Hidary, who has developed multiple hotels in Manhattan, said the hospitality market has been flat for the past three years. In response, Hidrock has stayed profitable by finding savings.

“The important thing that we found, in hospitality is managing expenses…managing payroll, having people doing the right jobs and keeping a lean staff providing what guests want when they come to New York City,” he said. “The hotels we are building have a great room, a clean bathroom, not a lot of amenity space and not a lot of staff, and what we found is that’s a recipe for success.”

NY Based Real Estate Development firm Hidrock Properties announced today that they’ve signed bakery chain Insomnia Cookies to its first Brooklyn store at 32 Fifth Avenue in Park Slope, Brooklyn.. Hidrock is finalizing their $3mm gut renovation of the 3-story mixed-use building located on the corner of Fifth Avenue and Dean Street, which includes a 500 SF corner space and 1,100 SF inline space. The bakery signed a 10-year lease for the corner.