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HGU New York 34 E 32nd St 90 Room Hotel New York, NY 10016 $62,252,548 CAD ($691,695 CAD/Room)
INVESTMENT HIGHLIGHTS
- This rare offer includes a renowned four-star lifestyle boutique travel destination hotel, spanning 90 spacious rooms over 10 stories.
- With accolades from CNN, Travel Weekly, and Guild Magazine, HGU was named one of the Best Boutique Hotels in New York City by Forbes.
- Desirable modern features include a 60-seat restaurant, two bars, a lounge, café, and an exclusive roof deck bar.
- HGU is currently unbranded and self-managed by an investment group with a single hotel asset.
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale 34 East 32nd Street, also known as HGU New York, an iconic landmarked historical 90-key hotel between Madison Avenue and Park Avenue South in the heart of NoMad. Built in 1905, this 35,778-square-foot Beaux Arts-style property is one of the oldest continuously operating hotels in New York City.
The property underwent a $25 million repositioning in 2016 and is now a highly reviewed four-star lifestyle boutique hotel servicing a diverse high-end client base. HGU New York provides investors with a unique opportunity to acquire a turnkey, cash-flowing non-union property in the highly desirable NoMad submarket. Currently self-managed, there is additional upside potential available to a hotel operator with the experience needed to increase revenues and add to the bottom line.
The property underwent a $25 million repositioning in 2016 and is now a highly reviewed four-star lifestyle boutique hotel servicing a diverse high-end client base. HGU New York provides investors with a unique opportunity to acquire a turnkey, cash-flowing non-union property in the highly desirable NoMad submarket. Currently self-managed, there is additional upside potential available to a hotel operator with the experience needed to increase revenues and add to the bottom line.
PROPERTY FACTS
| Price | $62,252,548 CAD | Lot Size | 0.10 AC |
| Price Per Room | $691,695 CAD | Building Size | 35,778 SF |
| Sale Type | Investment | No. Rooms | 90 |
| Property Type | Hospitality | No. Stories | 10 |
| Property Subtype | Hotel | Year Built/Renovated | 1910/2016 |
| Building Class | B | Corridor | Interior |
| Zoning | C5-2 - Central commercial district with continuous retail frontage intended for offices and retail establishments that serve the entire metropolitan region | ||
| Price | $62,252,548 CAD |
| Price Per Room | $691,695 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 35,778 SF |
| No. Rooms | 90 |
| No. Stories | 10 |
| Year Built/Renovated | 1910/2016 |
| Corridor | Interior |
| Zoning | C5-2 - Central commercial district with continuous retail frontage intended for offices and retail establishments that serve the entire metropolitan region |
AMENITIES
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 9 | $982.21 CAD | - |
| Guest Room | 81 | $594.86 CAD | - |
1 1
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 0861-0052 | Improvements Assessment | $5,341,735 CAD |
| Land Assessment | $1,899,334 CAD | Total Assessment | $7,241,069 CAD |
PROPERTY TAXES
Parcel Number
0861-0052
Land Assessment
$1,899,334 CAD
Improvements Assessment
$5,341,735 CAD
Total Assessment
$7,241,069 CAD
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HGU New York | 34 E 32nd St
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