For Sale
$20,000,000

Broadway New York, NY 10013

70-key hotel, prime Broadway location.

Overview

Added:
Dec 11, 2024
Days on market:
138
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.

Highlights

  • 99-year net leasehold interest for sale, priced at $20,000,000.
  • 70-key boutique hotel encompassing the entire building, including three retail spaces.
  • Annual net operating income (NOI) of $1,000,000.
  • Prime Broadway corner location in New York, NY, with convenient subway access.
  • Landmark building featuring a high-ceiling loft hotel design.

Property Details for 0 Broadway

Property type
Hospitality properties, Hotels
Square Feet
35,000 SF
Buildings
1
Stories
10

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7204305
Longitude
-74.0010105

FAQs

What type of property is this?
Hospitality property - 70-key hotel, prime Broadway location.
Where is the hospitality property located?
The property is located at Broadway New York, NY.
What is the asking price?
The asking price for this property is $20,000,000.
What are key features of this property?
This property features: 99-year net leasehold interest for sale, priced at $20,000,000.; 70-key boutique hotel encompassing the entire building, including three retail spaces.; Annual net operating income (NOI) of $1,000,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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0 Broadway
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