Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    449 36Th St New York, NY 10018

    Sponsored
    For Sale
    $16,000,000

    Prime Manhattan hotel, condo conversion potential.

    Property size:
    12,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 10-story, 39-key hotel located at 449 W 36th Street, New York, NY 10018. Boasting a 100% occupancy rate as of March 1st, 2023, the property currently generates a NOI of $1,600,000, with a projected NOI of $2,000,000 post-renovation. The asking price is $16,000,000, representing a current cap rate of 10% and a pro-forma cap rate of 12.5%. Built in 2005 and renovated in 2015, the hotel features 12,500 to 16,000 square feet of space on a 2,469 square foot lot. Approved plans exist for a 16,000 square foot residential condo conversion, leveraging an additional 2,500 square feet of air rights. The property is zoned R8A, C2-5, and HY i, offering significant flexibility. The land value is estimated at $900 to $1,100 per square foot. This fee-simple ownership opportunity is ideally situated near Hudson Yards, Manhattan West, the Javits Convention Center, and major transportation hubs, promising substantial returns for a value-add investor seeking residential condo redevelopment. The property's prime location and redevelopment potential make it a compelling investment.

    Property Features for 449 36Th St

    General Information

    Property type
    Hotels
    Square Feet
    12,500 SF

    Building Details

    Year Built/Renovated
    2005/2015
    Buildings
    1
    Stories
    10

    HighLights

    • Exceptional redevelopment opportunity: 100% cash‑on‑cash return projected within four years.
    • Hotel‑to‑residential condo conversion project.
    • Existing 12,340 SF building; approved plans for a 16,000 SF residential condo building.
    • Prime Manhattan location: walking distance to Hudson Yards, Manhattan West, Javits Center, and public transportation.
    • Contact Simon Lou, President/CEO of Hotel Real Estate Group, for approved floor plans and additional details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Casamia 36 Hotel Hotel The GEM Hotel Hudson ... Hotel

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9975409
    Latitude
    40.7557937

    Nearby Similar for Sale

    • $2,200,000
      0.09 Acres

      Updated Brick Duplex with Basement

      Updated 8-bedroom duplex with finished basement in Jamaica Hills.
      8470 159Th St, Jamaica, NY 11432
      View Details
    • New
      $2,500,000
      0.13 Acres

      Flushing Two-Family Home Near Northern Blvd

      Two-family home in prime Flushing location near Northern Blvd.
      35-35 155Th St, Flushing, NY 11354
      View Details
    • $1,599,000
      Pending

      Flushing Three-Family Investment Opportunity

      Spacious, well-maintained three-family property in prime Flushing location.
      162-19 Laburnum Ave, Flushing, NY 11358
      View Details
    • New
      $799,999
      0.11 Acres

      Jamaica, NY Duplex Opportunity

      Well-cared for duplex on a spacious lot in historic neighborhood.
      112-05 180Th St, Jamaica, NY 11433
      View Details
    • New
      $1,650,000
      0.06 Acres

      Jamaica Commercial Building For Sale

      4,620 SF commercial building in prime Jamaica location.
      148-11 175Th St, Jamaica, NY 11434
      View Details
    • $1,325,000

      Ridgewood Two-Family Home For Sale

      Well-maintained, move-in-ready two-family home in vibrant Ridgewood neighborhood.
      20-15 Menahan St, Flushing, NY 11385
      View Details
    • New
      $800,000
      Pending

      Jamaica Duplex with Large Lot

      Detached duplex on a large lot in Jamaica, Queens.
      16602 120Th Ave, Jamaica, NY 11434
      View Details
    • $1,300,000
      Pending

      Renovated Two-Family Home in Jamaica

      Renovated two-family home with modern amenities and ample parking.
      120-12 Long St, Jamaica, NY 11434
      View Details
    • $1,975,000
      4,014 SF

      Renovated Astoria Heights Multi-Family Home

      Renovated 4-family home in desirable Astoria Heights location.
      19-49 80Th St, Flushing, NY 11370
      View Details
    • $4,999,950

      Manhattan Multifamily Building Near Grand Central

      Multifamily property near Grand Central Terminal with redevelopment potential.
      113 E 39Th St, Manhattan, NY 10016
      View Details
    • $1,295,000
      Pending

      Two-Family Home in Jamaica, NY

      Two-family home with finished basement, driveway, and garage.
      15027 Linden Blvd, Jamaica, NY 11434
      View Details
    • New
      $2,998,888
      0.11 Acres

      Spacious Two-Family Residence in Flushing

      Two-family home with finished attic and basement near amenities.
      146-18 Laburnum Ave, Flushing, NY 11355
      View Details

    FAQs

    What type of property is this?
    Hotel - Prime Manhattan hotel, condo conversion potential.
    Where is this hotel located?
    The property is located at 449 36Th St New York, NY.
    What is the asking price?
    The asking price for this property is $16,000,000.
    What are key features of this property?
    This property features: Exceptional redevelopment opportunity: 100% cash-on-cash return projected within four years.; Hotel-to-residential condo conversion project.; Existing 12,340 SF building; approved plans for a 16,000 SF residential condo building.
    Request Owner's contact information
    449 36Th St New York, NY 10018
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    449 36Th St
    New York, NY 10018
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    449 36Th St New York, NY 10018
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.