Iconic Five Star New York Hotel, Central Park For Sale 230 Keys US$245m

Location: Walking Distance to Central Park (The Plaza end)

Name: TBA

No. of Keys: 230 including suites

The Property: A newish brand, iconic hotel with celebrity chef restaurant. The brand has very green, sustainable credentials (LEED certified) and appeals to a trendy, millennial client base. Besides the variety of room types, some with Park views, the hotel has meeting rooms to take upto 130 people. The brand benefits from marketing from its other hotels in the US and coming soon, Europe.  The hotel is non-union. LS

Main Photo: Central Park, courtesy Getty Images

Tenure: Freehold

Brand/Management: Flag and management in place

Financials: Financials available upon signing of a NDA

Yield/Cap Rate: Over 5% looking at 6% in 2020

Current Owner: Significant brand in stature

Agent: Local agent in partnership with The Hotel Property Company

Guide Price: US$245m to include buyer-side fees

Guide Price per Key: Just over US$1m

Date Posted: January 2020

THPT Comment: This is a unique opportunity to acquire a seriously fab, trophy hotel, making a good yield.

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This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”

Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@thpt.co.uk.

MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.