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Hotels In New York

Updated: Jan 11

NCND and POF/Company Bio needed to release financials, OMs, and answer any questions.

A CONGLOMERATE OF HIGHLY DISCOUNTED

'OFF MARKET' HOTEL DEALS IN NYC!!! HOTEL DEAL SUMMARY‐ NYC


1) 1 Hotel - Central Park Address: 1416 6th Avenue Category: 4+ Star Hotel

Purchase Price: $238M + 4% 

228 key [ 33 suites, 196 standard] 4 yrs old     

Non-union Nice projected cap rates of over 6%. New restaurant called JAMS by celebrity chef Jonathan Waxman just opened. Brings in big revenues.

Below are the expected annual Cap rates based on the Purchase Price of $238M. Cap Rates: Year 2016: 5.6% (Actual) Year 2017: 6.0% (Projected) Year 2018: 6.2% (Projected) Year 2019: 6.7% (Projected) Revenue ‐ $32MM RevPar ‐ $320 The above has probably improved. It was based on 75% occupancy in 2016. On the prestigious intersection of 58th St. and 6th Ave. Has nice views of Central Park. New & modern Eco-conscious hotel. Over 90% occupancy rate!! (as of July 2017)

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2) Marriott Fairfield Inn & Suites New York Downtown Manhattan/World Trade Center Area Location: 90/100 Greenwich

Purchase Price - $115M + 4%.

For sale at $600K a key. No of Keys: 192  Brand NEW!!! Projected Gross Income $20M; Projected income $10M. Non-union

3) Time Hotel 4 Star Hotel New to Market at Times Square Location: 224 w. 49th st, 10019

Purchase Price: WAS - $115.8M + 4%

Discounted to: $106M + 3%

Cap 4.72%   

193 keys Union‐but restaurant non-union                         2017                  2018 Room Rev   $11,279,648    $18,523,783 Occupancy      89.70%            90.02% ADR                $273.45            $292.10 Rev Par           $245.28             $262.95 NOI               4,100,000         5,000,000


4) MANDARIN Luxury 5 Star Hotel Address: 80 Columbus Circle, New York NY - Area: Mandarin Oriental - Lincoln Square, Manhattan

Purchase Price $550M + 3%

Keys - 244     

4.8 cap ($2.15M Per Key)    High above the iconic New York skyline, five-star luxury hotel offering a celebrated restaurant and a world-renowned spa, the perfect base from which to explore the Big Apple Soaring high above the city, with 244 sumptuously designed rooms and elegantly appointed suites in an unbeatable setting. Lot: 519.03' x 492' Zoning: C6-6 F.A.R.: 14.07 Est. Net Profit: $25,000,000 ● Block & Lot: 1049-7501 ● 54 Story ● 519.03 ft x 492 ft Lot , ● 421 ft x 492 ft Building ● Gross Floor Area: 2,105,415 SF (estimated) ● Air Right 137,595 SQFT ● 244 Rooms ● FAR as built 14.08 ● Zoning C6-6


5) Alogonquin Hotel in Times Square 4+ Stars Hotel

Address: 59 W 44th St, New York, NY 10036

Purchase Price: WAS - $139M + 4%                            

NOW - $115M + 3%

181 keys at $768k/key 97% occupancy

Non-Union

1.5 cap NOI for 2015 was $1.75M.



6) 2 Hotel Package

(A) 36 Hudson Hotel

Address: 449 W 36th St, New York, NY  details below


(B) Hudson River Hotel

Address: 442 W 36 St. New York, NY

Purchase Price: $44M + 4% 


($463k per key) Total 95 rooms  These can be sold separately [$21M + 4% for 449 W and $23M + 4% for 442 W] Near Jacob K. Javits Convention Center, Hudson Yards, Midtown West Manhattan 95 rooms No Flag Non-Union 6% Cap rate Net Operating Income $2,640,000


HOTEL DEAL SUMMARY‐ NYC

1) 1 Hotel - Central Park Address: 1416 6th Avenue Category: 4+ Star Hotel Purchase Price: $238M + 4%   228 key [ 33 suites, 196 standard]  4 yrs old      Non union  Nice projected cap rates of over 6%.  New restaurant called JAMS by celebrity chef Jonathan Waxman just opened. Brings in big revenues.  Below are the expected annual Cap rates based on the Purchase Price of $238M. Cap Rates:  Year 2016: 5.6% (Actual)  Year 2017: 6.0% (Projected)  Year 2018: 6.2% (Projected)  Year 2019: 6.7% (Projected)  Revenue ‐ $32MM  RevPar ‐ $320  The above has probably improved. It was based on 75% occupancy in 2016.  On the prestigious intersection of 58th St. and 6th Ave.     Has nice views of Central Park.     New & modern Eco-conscious hotel.     Over 90% occupancy rate!! (as of July 2017)

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2) Marriott Fairfield Inn & Suites New York Downtown Manhattan/World Trade Center Area Location: 90/100 Greenwich Purchase Price - $115M + 4%. For sale at $600K a key. No of Keys: 192  Brand NEW!!! Projected Gross Income $20M; Projected income $10M. Non union ------------------------------------------------------------------------------------------

3) Time Hotel 4 Star Hotel New to Market at Times Square Location: 224 w. 49th st, 10019 Purchase Price: WAS - $115.8M + 4% Discounted to:               $106M +3% Cap 4.72%    193 keys Union‐but restaurant non union                         2017                  2018 Room Rev   $11,279,648    $18,523,783 Occupancy      89.70%            90.02% ADR                $273.45            $292.10 Rev Par           $245.28             $262.95 NOI               4,100,000         5,000,000 ------------------------------------------------------------------------------------------

4) MANDARIN Luxury 5 Star Hotel Address / Area - 80 Columbus Circle, New York NY - Mandarin Oriental - Lincoln Square,Manhattan Purchase Price $550M + 3% Keys - 244     4.8 cap ($2.15M Per Key)    High above the iconic New York skyline, five-star luxury hotel offering a celebrated restaurant and a world-renowned spa, the perfect base from which to explore the Big Apple Soaring high above the city, with 244 sumptuously designed rooms and elegantly appointed suites in an unbeatable setting. Lot: 519.03' x 492' Zoning: C6-6 F.A.R.: 14.07 Est. Net Profit: $25,000,000 ● Block & Lot: 1049-7501 ● 54 Story ● 519.03 ft x 492 ft Lot , ● 421 ft x 492 ft Building ● Gross Floor Area: 2,105,415 SF (estimated) ● Air Right 137,595 SQFT ● 244 Rooms ● FAR as built 14.08 ● Zoning C6-6

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5) Alogonquin Hotel in Times Square 4+ Stars Hotel Purchase Price: WAS - $139M + 4%                             NOW - $115M + 3%  181 keys at $768k/key      97% occupancy  Non Union‐‐‐1.5 cap  NOI for 2015 was $1.75M.

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6) 2 Hotel Package:      (A) 36 Hudson Hotel - 449 W 36th St, New York, NY -

(B) Hudson River Hotel - 442 W 36 St. New York, NY - Purchase Price: $44M + 4% ($463k per key) -- Total 95 rooms  -- These can be sold separately     [$21M + 4% for 449 W and $23M + 4% for 442 W] ● Near Jacob K. Javits Convention Center, Hudson Yards, Midtown West Manhattan ● 95 rooms ● No Flag ● Non-Union 6% Cap rate Net Operating Income $2,640,000


7) Courtyard by Marriott New York Manhattan Address: 960 Ave of the Americas, New York, NY

Area: Midtown, Manhattan

Purchase Price: $156M + 3% 

(167 keys--- $898K per key) 18 story building with basement Hotel & Office Building approx.100,738 sf Zoning : C6-6 / FAR: 15 Converted to Hotel in 2013 1-2 Floor Bank, 3-17 Floor Marriot Hotel(167 rooms) 18 Floor Bar with 2 story basement ( Cellar: office meeting & Mechanical rooms,    Mezzanine: Non-Union// Hotel management by Marriott for long term. Bank & Bar $2,403,802 annual(2016) Marriott Hotel Profit $2,500,000-$3,500,000 *Marriott suggested new policy (@$35 increase per room charge) $2,133,425 additional income

CAP rate 4% (soon will be 5 % CAP) NOI $4,906,288.87



8.) Wingate Hotel Category: Hotel 3 Star Address : 233 W 35 Street,, New York NY 10001

Purchase Price: $45M + 4%  

Keys:  93 Rooms.- $484/key Area Sqft :41,584  Note: Union Cap Rate:  5.7% In a very busy area off 7th Ave. One block north of Penn Station and Madison One block west of Macy's at Herald Square High 93% occupancy Built in 2006     

17 floors. NOI for last 12 months was $2.55M. Has the popular Asura Asian B Restaurant


9) Park Lane at Central Park Address: 36 Central Park S, New York, NY 10019

Purchase Price:$1.2B + 3%

KEYS: 628 A Central Park Hotel, is a luxury 46-story hotel with panoramic views of legendary Central Park and the iconic New York City skyline Located directly on Central Park, in the Midtown Manhattan Business District, Park Lane Hotel is just steps from Fifth Avenue Shopping, Broadway Theaters, Museum Mile, Carnegie Hall, Radio City Music Hall, Lincoln Center and many other NYC Activities and New York Attractions



10) Empire Address44 W 63rd St, New York, NY 10023

Purchase Price: $359.8M + 3%

Category -- 4 star KEYS -- 426  The Empire Hotel’s coveted location is within convenient proximity to some of New York’s most famed attractions. Directly across the street, it's a short walk to the renowned Lincoln Center, which includes the Metropolitan Opera House, Jazz at Lincoln Center and Alice Tully Hall, to see year round live spectaculars. Tree lined streets of the Upper West Side leading to Columbus Circle and the idyllic Central Park.




11) Library Hotel Address: 299 Madison Ave, New York, NY 10017

Purchase Price: $60M + 4%

KEYS: 60    $1m per key 5 Cap   

Non-union!!! Library Hotel is a boutique hotel centrally located in Midtown Manhattan, within walking distance to many of New York City's top attractions, and around the corner from all forms of public transportation. Management wants 10 yr contract!



12) Casablanca Address: 147 W 43rd St, New York, NY 10036

Purchase Price: $20M + 4%


KEYS --- 48  Leasehold only Low cap Located in Times Square -- Inspired by the romance of the movie, "Casablanca" the Casablanca Hotel is an intimate "home away from home" style boutique hotel in New York City's most popular location, Times Square Broadway Theatre District in Midtown Manhattan. 



13) Ritz Central Park

Address: 50 Central Park S, New York, NY 10019

Purchase Price: $328M + 3%


KEYS --- 259  The Hotel St. Moritz was a luxury hotel located at 50 Central Park South, on the east side of Sixth Avenue, in New York City. The structure was extensively rebuilt from 1999 to 2002, and today it is a hotel/condominium combination known as The Ritz-Carlton New YorkCentral Park.


14) Sheraton - Garment District

Address: 326 West 40th Street New York

Located in Manhattan Midtown West 4 Star Hotel

197 keys—5 cap

PRICE: $232M + 4%


15) Heritage Address: 18 W 25th St, 10010

PRICE: $30M + 4%


110 keys   2 Star Hotel 1.4 cap, Non union  No flag, but 90 yr lease!


16) Lex Hotel Address: 67 Lexington 10010 3 Star Hotel 48 key   

6.4 cap

No flag


Price: $25M + 4%


17) Stewart 4 Star Hotel Address: 371 7th Ave. 10001 611 keys    $550/key


Price: $350M + 3% PLEASE CALL 704-530-2875 OR EMAIL j.wright2145@twc.com FOR ADDITIONAL INFORMATION - SERIOUS INQUIRIES ONLY.

Buyers are advised to do their own independent due diligence and research before commuting with the purchase



Here is list of more available Hotels.


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