Seton Hotel

Hospitality Sale

Price $25,000,000 / Price/Room $1,136,364
Price/SF $1,599.49 / On Market 1,796 Days / Last Updated Mar 17, 2023

For Sale
Price $24,000,000 / Price/Room $396,721
Price/SF $1,164.58 / On Market 87 Days / Last Updated May 4, 2023

Building
Type Hotel (Hotel Opened Jan 2006) / Location Urban
Rooms 61 / Stories 6
GBA 20,780 SF / Typical Floor 3,456 SF
Year Built 1931 / Renovated 2010

Land
Land Acres 0.11 AC / Bldg FAR 4.34
Land SF 4,792 SF / Dimensions 26′ x 88′ / Zoning C5-2.5

Sale Notes
The property boasts several features that make it an attractive investment opportunity. It currently produces $850K in rental income (NNN) per annum and carries a maximum ZFA of approximately 68,250 SF (56,880 SF for residential) plus the possibility of acquiring additional air rights, which gives it significant redevelopment potential. Furthermore, it enjoys unrestricted sight lines on three sides, providing attractive views suitable for condominiums. The property’s strategic location with easy access to multiple subway lines, MTA buses, the Metro-North and the LIRR, ensures excellent connectivity. It also is in close proximity to the city’s main employment centers in Midtown plus the upcoming life sciences hub in Kips Bay.

About Owner
The Limited Liability Company 940 Park Ave NYC