Year:

$50,000,000

Location:

Urban

Property Types:

Hotel

Rooms:

70

Stories:

9

For Sale

Price $50,000,000 / Price/Room $714,286 /
Price/SF $1,408.61 / On Market 1,196 Days / Last Updated Mar 20, 2023 / NOI $1,800,000

Building
Type Hotel (Hotel Opened Jan 2006) / Location Urban
Rooms 70 / Stories 9
GBA 35,496 SF / Typical Floor 3,468 SF / Building Ht 92′
Year Built 1879 / Renovated 2006

Land
Land Acres 0.09 AC / Bldg FAR 9.05
Land SF 3,920 SF / Dimensions 34‘ x 120’ / Zoning M1-5

Sale Notes
Hotel Income $1,200,000 / year
Retail Income $500,000 / year
Buy entire building fee simple asking $50 millions

About the Owner
King Fook
Realty Corporation(Owner) 219 Canal St NYC (917) 864-9835 (p)

Financials

Revenue 2020(Per SF)

Gross Rental Income $2,000,000 / $56.34/sf-

Effective Gross Income $2,000,000 / $56.34/sf

Expenses

Operating Expenses $200,000 / $5.63/sf

Taxes $400,000 / $11.27/sf

Total Expenses $600,000 / $16.90/sf

Net Operating Income $1,400,000 / $39.44/sf

Cash Flow $1,400,000 / $39.44/sf