Boutique Hotel Development Site

  • 77 Rooms (Latest Plans)
  • 61 Double Rooms
  • 16 Single Rooms
  • PriceJoint venture – 45% for $6 million (Asking) Entire Land w/Plans – $11 Million.
  • Price Per Key (Raw land) w/Plans – $149,000 Per Key (Very reasonable and under market value)
  • Building Size: 23,803 SF
  • Room Size: Guest rooms will range in type and size, although all of the rooms are under 260 square feet. The twin XL-bedded rooms range from 103 square feet to 124.5 square feet. The full-bedded rooms range from 95 square feet to 256 square feet. The queen-bedded rooms range from 130 square feet to 204 square feet. The handicap rooms will feature balconies.
  • Amenities: Bar and lounge, Lobby workstation, Gift shop, rooftop
    Vending area. Food & beverage outlets are planned for the mezzanine floor and rooftop. The hotel will also feature all necessary back-of-the-house space.
  • Elevators: The plans call for 2 elevators
  • Appraisal Report – Value of Property upon completion and grand opening: $33,900,000  This value estimate equates to $440,000 per room.
    Additional Note:
  • Ideal Usage: Boutique Hotel, Flagged Hotel, Triple Net Lease to Hotel Operator (High demand in Manhattan for a NNN Lease)