101 BoweryNew York, NY 10002

Property Details for 101 Bowery

Year built

1900

Lot size

0.07 AC

Property size (Sq ft)

13,465 SF

Zone code

C61G

Property type

Residential income homes

Property subtype

Serviced apartments

APN

00304-0004

APU

3040004

Description

This exceptional 1900-built hotel at 101 Bowery, New York, NY 10002 presents a compelling value-add opportunity in a supply-constrained market. Offered at $12,500,000, this hospitality property boasts an impressive 83% occupancy rate and a projected net operating income (NOI) of $1.2 million. The property's location in New York County provides excellent access to the city's vibrant cultural scene and bustling commercial districts. The building itself is a testament to its era, offering a unique blend of historical charm and modern potential. This investment opportunity is further enhanced by the ongoing Certificate of Non-Harassment process, streamlining the acquisition process. The property's strong performance and strategic location make it an ideal asset for investors seeking significant returns in a high-demand market. Detailed financial statements and operational data are available upon request. This is a rare chance to acquire a well-established hotel in one of New York City's most sought-after neighborhoods. Don't miss this chance to capitalize on the potential of this remarkable property.

• CAP approach

  CAP return

  Valuation

  6%

  $2,760,447

  6.5%

  $2,548,105

  7%

  $2,366,097

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,726,972

  Geo Method

  $2,726,972

• Alternative Use

  Use

  Valuation

  Residential

  $2,548,105

  Hospitality

  $2,334,050

  Educational

  $1,941,902

  Medical

  $2,008,687

  Retail

  $3,020,737

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7175

Longitude

-73.9949

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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