Overview

WE ARE DIRECT TO THE SELLER OF THIS HOTEL. PLEASE SEND YOUR INQUIRY TO EMAIL:  wwwbusiness7045@gmail.com FOR MORE DETAILS. THANK YOU. JOHN NGUYEN (817-607-3033). FEB/01/2020.

Luxury: Hotel One Central Park, NEW YORK­

Asking Price: $284 Million

This is an off-­market 5 Star hotel right off Central Park, NEW YORK

229 large rooms modern Eco­ conscious hotel 

Popular tourist & business area, 

It will make $15M NOI on $16.7M of EBITDA

Cap rates of 5.05% 

NOI is 13.9 million for 2017. 

New restaurant JAMS by celebrity chef Jonathan Waxman just opened: Brings in big revenue.

Hotel just put $165m of new debt on it at L+225, and there is $30m of EB5 @ L+325 debt in place. Both are likely assumable . There are four obvious upsides to the asset. First, hotel will have as many as 90 sold out nights this year. Second, the hotel is filling in the “hole” between the first and second floor and adding a meeting room. The meeting rooms are always booked. Third, hotel is enhancing the lobby to provide more beverage sales converting the space to a speakeasy after dinner. And fourth, there is a dentist who occupies the top floor of the hotel. In a little over 2 years, his lease expires and we will be exiting the building. With this space an amazing 5000 sq ft penthouse/presidential hotel or residential unit.. or an incredible rooftop bar.

 

Details

Financial

Posted By
Broker / Agent
Affiliation
Franchise
# of Units
229
Occupancy %
90%
NOI
$USD 13,900,000.00