A 99-year net lease worth more than $23 million was recently signed for 10-12 Bond St., which is expected to be transformed into a boutique hotel, according to the Citifeet real estate Web site. Located at the northwest corner of Bond and Lafayette Sts., the lot currently sports a large billboard. Approximately 42 ft. by 100 ft., the site is in an M1-5B zone with a buildable square footage of approximately 19,150 sq. ft. The lease was structured to allow development of the hotel. James Nelson and Michael Soleimani of Massey Knakal represented the property owner in this transaction. Nearby at 32-40 Bond St., Ian Schrager hopes to build a 14-story residential building, having scrapped earlier plans for a 12-story hotel.
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