Broadway New York, NY 10013
- Hospitality properties
- 35,000 SF
Current Use by Public Records
- Hospitality properties
Property Details for 0 Broadway
- Property size
- 35,000 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional investment opportunity presents a 70-key boutique hotel with three additional retail spaces, totaling 35,000 square feet. Located on a prime corner of Broadway in New York City, near subway access, this landmark building boasts a high-ceiling loft design. The property is offered as a 99-year net leasehold interest for $20,000,000, generating an annual net operating income (NOI) of $1,000,000, representing a 5% cap rate. The hotel currently maintains an 80% occupancy rate (as of March 31, 2020). The single, ten-story building sits on a 3,000 square foot lot and is zoned for hotel use. This represents a unique chance to acquire a well-established, high-performing asset in a highly desirable location. The price per key is $285,714.29, and the price per square foot is $571.43. The property is privately owned. Serious inquiries only.
Value Estimation
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Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -74.001
- Latitude
- 40.7204
