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    44Th St New York, NY 10019

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    For Sale
    Contact for pricing

    Luxury Hotel, 165 Keys, High NOI

    Property size:
    75,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Prime Manhattan hotel for sale near Times Square. This 20-story, 75,000 square foot building boasts 165 keys and a remarkable 100% occupancy rate since December 31, 2009. Built in 2008 with renovations completed in 2014, the property features 200 beds across its 165 rooms. The asking price is $75,000,000, representing a price per key of $454,545.45 and a price per square foot of $1,000. The property generates a strong NOI of $8,000,000, resulting in a compelling 10.67% cap rate. Situated on a 7,000 square foot lot in the desirable West 44th Street location (zip code 10019), the land value is estimated at $700-$800 per square foot. The property is zoned C6-4.5, C6-6, and MID i. This is a unique opportunity to acquire a high-performing, fully occupied hotel in a premier location. The property is privately owned and is being sold as a bank-owned foreclosure. This is an owner/user investment opportunity suitable for short-term or long-term strategies, including net lease arrangements. No ground lease exists. No air rights are available.

    Property Features for 0 44Th St

    General Information

    Property type
    Hotels
    Square Feet
    75,000 SF

    Building Details

    Year Built/Renovated
    2008/6
    Buildings
    1
    Stories
    20

    HighLights

    • Prime Manhattan hotel near Times Square, asking $75,000,000.
    • 20‑story, 75,000 square foot building with 165 keys and 100% occupancy since 2009.
    • Built in 2008, renovated in 2014, featuring 200 beds.
    • $8,000,000 NOI, resulting in a 10.67% cap rate; price per key: $454,545.45; price per square foot: $1,000.
    • 7,000 square foot lot on West 44th Street (10019), land valued at $700-$800 per square foot; zoned C6‑4.5, C6‑6, and MID i.
    • Bank‑owned foreclosure, no ground lease, no air rights available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Map

    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9833371
    Latitude
    40.7643991

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    FAQs

    What type of property is this?
    Hotel - Luxury Hotel, 165 Keys, High NOI
    Where is this hotel located?
    The property is located at 44Th St New York, NY.
    What is the asking price?
    The asking price for this property is $75,000,000.
    What are key features of this property?
    This property features: Prime Manhattan hotel near Times Square, asking $75,000,000.; 20-story, 75,000 square foot building with 165 keys and 100% occupancy since 2009.; Built in 2008, renovated in 2014, featuring 200 beds.
    Request Owner's contact information
    44Th St New York, NY 10019
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    New York, NY 10019
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    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
    44Th St New York, NY 10019
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