Manhattan Soho New York Ny Usa New York, NY 10013
- Hospitality properties
- 55,000 SF
Current Use by Public Records
- Hospitality properties
Property Details for 0 Manhattan Soho New York Ny Usa
- Year built
- 2008
- Property size
- 55,000 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
Exceptional opportunity to acquire a branded, 160-key hotel in the coveted SoHo neighborhood of Manhattan. This 18-story, 55,000 square foot property boasts a current NOI of $5,000,000 and a pro-forma NOI of $7,000,000, representing a 5.56% cap rate and a pro-forma cap rate of 7.78%, respectively. The hotel, built in 2008 and renovated in 2018, currently enjoys a 90% occupancy rate (as of June 30, 2021). The asking price is $90,000,000, translating to $1,636.36 per square foot and $562,500 per key. The property is zoned C6-9/LM and features one building. This is a unique owner/user investment opportunity in a prime location, with significant potential for increased profitability. The property is a partnership ownership and does not include a ground lease. Further details are available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -74.0094
- Latitude
- 40.7218
