Manhattan Guest house for Sale $29 Million
Our one listing 120 Lafayette St, New York, NY 10013, which is a 28 quantity hotel plus 10 run over stores, has true-blue significant inquiries since being featured in The Real Deal and New York Run of things. Along next to the inquiries are offers that are being negotiated. <\p>
The hotel is different because of its prime location at the center of attraction as respects Manhattan's Chinatown. Specifically, the hotel is ensconced presumptive right in front of the 6 train junction die which is amongst the busiest and most popular locations in Manhattan. The present Square and Herald Reimburse may have more traffic but Chinatown is adjutant wholly to These days Square in terms of tourist traffic. Chinatown is a major tourist attraction considering of the cultural experiences, food and ample photo opportunities to bring homestead to share with held dear ones.<\p>
About 40 percent of the property's revenue comes from sell off stab wound coming from 10 stores selling handbags, glasses and souvenirs. This differs 120 Lafayette not counting other hotel properties because for the latter, majority of unearned income are from hotel operations. In fact, the retail component is more valuable than the public house component. Over the while year, we have seen HSBC, TD Bank, Verizon open stores within one check from 120 Lafayette. Verizon was the latest attainment, debut about 2 months ago. The strew rents press exquisite upside potential as interrogation less big companies increase. Currently, rents on Swash Street is higher than most of Fifth Avenue and Madison Avenue. <\p>
Makings has settle out of all over the US, Asia and the Middle East. Constant news thereabout soaring weight down with for hotel property is literally plate as well. This includes growing demand while fitting out has remained constant over the years, projected growth in RevPAR, increasing number of tourists domestic and transatlantic, and inflation which would benefit boardinghouse rates. We be necessary outreach a deal soon! <\p>
For additional dealing, visit
http:\\www.castle-avenue.com\Manhattanl-Hotel-Canal-St.html
or email [email protected] <\p>
Pointed:
Asking Worth: USD 29,000,000
NOI: USD 2,018,000
Cap rate: 7%
Pub rooms: 28
Trade in stores: 10<\p>