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1. Top 4+ star Hotel Cap rate 6+ % Manhattan Centra - American $245,140,000.00
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708645 | Top 4+ star Hotel Cap rate 6+ % Manhattan Centra

Top 4+ star Hotel Cap rate 6+ %  Manhattan  Centra
Type: buy
PriceAmerican $245,140,000.00
Seller
Quantity: 1
Availability: yes
Location: Manhattan, New York, United States

Top 4+ star Hotel Cap rate 6+ %  Manhattan  Central Park with over 200 rooms over 90% occupancy rate!! NY in the USA.

? 4 yrs old

? Non union

? To move forward buyer to provide LOI with proof of funds and bios

? Nice projected cap rates of over 6%.

? Revenue ? $32mm

? RevPar ? $320

? Occupancy Rate ? 90%

? 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 asking 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)

To move forward:

  • Buyer / Buyer Rep to sign asset specific NCND/MFA
  • Buyer to submit Non-binding LOI and POF to connect with seller

Make an Offer / Ask Seller a Question
 
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