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Amsterdam Castle | Hospitality Property 49 Florida Ave 22 Room Hotel Amsterdam, NY 12010 $6,656,528 CAD ($302,569 CAD/Room)
Investment Highlights
- Historic Castle Converted Into Luxury Boutique Hotel & Event Destination
- Strong Occupancy Averaging 75%–80% Annually
- Existing Restaurant, Commercial Kitchen & Event Infrastructure
- 22 Existing Guest Rooms With Expansion Potential to 30 Rooms
- Significant Revenue Upside Through Expanded Hospitality Operations
- Dramatic Architecture Featuring Towers, Grand Halls & Panoramic Terraces
Executive Summary
Amsterdam Castle, located at 49 Florida Avenue in Amsterdam, New York, is a rare and iconic hospitality opportunity being offered at $4,850,000. This historic boutique hotel and event destination combines architectural grandeur, operational infrastructure, and significant upside potential, making it attractive to hospitality operators, investors, family offices, event companies, and luxury lifestyle buyers alike. Family-owned and operated, the Castle currently features approximately 22 guest rooms, with the potential to expand to nearly 30 rooms through minimal reconfiguration. The owners presently occupy several bedrooms within the Castle as well as additional on-site residential rentals, all of which will be delivered vacant upon sale, creating immediate opportunities for additional revenue generation. Ownership is willing to assist during a transition period, and both the operations manager and head of maintenance have expressed interest in remaining with the property to provide continuity for future ownership.
The property currently operates well below its full potential, as the owners have intentionally limited restaurant operations, weddings, and special events in preparation for retirement. Despite this conservative operational model, the Castle generates gross annual revenues ranging from approximately $800,000 to $1,000,000, with room occupancy averaging between 75% and 80% annually and peak-season reservations often booked more than 30 days in advance. Average room rates range between $250 and $300 per night. Current operations include a restaurant and commercial kitchen that primarily serve hotel guests and are only open select evenings, leaving substantial opportunity for expansion through public dining, brunch service, weddings, corporate events, private functions, and destination hospitality programming. A more aggressive hospitality platform could potentially drive annual revenues exceeding $2,000,000 through operational optimization and strategic repositioning.
Amsterdam Castle benefits from a strong global online presence and established hospitality branding, with bookings generated through Expedia, Booking.com, TripAdvisor, Google Hotels, Facebook, and affiliated hospitality platforms. The property receives frequent inquiries for weddings, events, retreats, and overnight accommodations due to its highly distinctive architecture and destination appeal. The Castle’s dramatic towers, grand entertaining spaces, expansive terraces, and historic character create an experiential hospitality asset that would be exceptionally difficult and costly to replicate today. Multiple value-add opportunities exist, including reclaiming owner-occupied rooms for guest accommodations, converting the towers into premium suites with private balcony concepts, expanding restaurant operations to breakfast, lunch, and dinner service, and utilizing the expansive grounds for outdoor entertainment, garden events, cocktail areas, or a resort-style pool concept. The property also features a large second-floor terrace measuring approximately 70 feet by 25 feet with panoramic views overlooking Amsterdam, providing an ideal setting for weddings, receptions, and upscale events.
Infrastructure improvements already completed by ownership provide additional long-term scalability and development potential. The main water service line has been upgraded to 6-inch service, and the electrical infrastructure has been modernized to support future expansion. There is also the possibility of constructing an additional building adjacent to the Castle to accommodate more guest rooms or hospitality-related amenities. Strategically positioned within driving distance of New York City, Albany, Saratoga Springs, the Hudson Valley, and the Adirondacks, Amsterdam Castle is well suited for destination travelers, weekend getaways, corporate retreats, and experiential tourism. The property presents an exceptional opportunity to acquire a highly recognizable hospitality landmark with existing infrastructure, strong occupancy trends, diverse revenue streams, and substantial upside for a qualified hospitality operator or investor seeking a truly one-of-a-kind boutique hotel and event destination.
The property currently operates well below its full potential, as the owners have intentionally limited restaurant operations, weddings, and special events in preparation for retirement. Despite this conservative operational model, the Castle generates gross annual revenues ranging from approximately $800,000 to $1,000,000, with room occupancy averaging between 75% and 80% annually and peak-season reservations often booked more than 30 days in advance. Average room rates range between $250 and $300 per night. Current operations include a restaurant and commercial kitchen that primarily serve hotel guests and are only open select evenings, leaving substantial opportunity for expansion through public dining, brunch service, weddings, corporate events, private functions, and destination hospitality programming. A more aggressive hospitality platform could potentially drive annual revenues exceeding $2,000,000 through operational optimization and strategic repositioning.
Amsterdam Castle benefits from a strong global online presence and established hospitality branding, with bookings generated through Expedia, Booking.com, TripAdvisor, Google Hotels, Facebook, and affiliated hospitality platforms. The property receives frequent inquiries for weddings, events, retreats, and overnight accommodations due to its highly distinctive architecture and destination appeal. The Castle’s dramatic towers, grand entertaining spaces, expansive terraces, and historic character create an experiential hospitality asset that would be exceptionally difficult and costly to replicate today. Multiple value-add opportunities exist, including reclaiming owner-occupied rooms for guest accommodations, converting the towers into premium suites with private balcony concepts, expanding restaurant operations to breakfast, lunch, and dinner service, and utilizing the expansive grounds for outdoor entertainment, garden events, cocktail areas, or a resort-style pool concept. The property also features a large second-floor terrace measuring approximately 70 feet by 25 feet with panoramic views overlooking Amsterdam, providing an ideal setting for weddings, receptions, and upscale events.
Infrastructure improvements already completed by ownership provide additional long-term scalability and development potential. The main water service line has been upgraded to 6-inch service, and the electrical infrastructure has been modernized to support future expansion. There is also the possibility of constructing an additional building adjacent to the Castle to accommodate more guest rooms or hospitality-related amenities. Strategically positioned within driving distance of New York City, Albany, Saratoga Springs, the Hudson Valley, and the Adirondacks, Amsterdam Castle is well suited for destination travelers, weekend getaways, corporate retreats, and experiential tourism. The property presents an exceptional opportunity to acquire a highly recognizable hospitality landmark with existing infrastructure, strong occupancy trends, diverse revenue streams, and substantial upside for a qualified hospitality operator or investor seeking a truly one-of-a-kind boutique hotel and event destination.
Property Facts
| Price | $6,656,528 CAD | Building Size | 26,230 SF |
| Price Per Room | $302,569 CAD | No. Rooms | 22 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1826/2017 |
| Property Subtype | Hotel | Parking Ratio | 1.52/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.90 AC | Opportunity Zone |
Yes
|
| Zoning | 03 - MULTI - Commercial | ||
| Price | $6,656,528 CAD |
| Price Per Room | $302,569 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.90 AC |
| Building Size | 26,230 SF |
| No. Rooms | 22 |
| No. Stories | 2 |
| Year Built/Renovated | 1826/2017 |
| Parking Ratio | 1.52/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | 03 - MULTI - Commercial |
Amenities
- Restaurant
- High Speed Internet Access
- Boutique/Lifestyle Hotel
- Wedding Venue
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 11 | $448.80 CAD | - |
| Guest Room | 11 | $258.03 CAD | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 270100-055-050-0002-030-000-0000 | Improvements Assessment | $633,537 CAD |
| Land Assessment | $52,703 CAD | Total Assessment | $686,240 CAD |
Property Taxes
Parcel Number
270100-055-050-0002-030-000-0000
Land Assessment
$52,703 CAD
Improvements Assessment
$633,537 CAD
Total Assessment
$686,240 CAD
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Amsterdam Castle | Hospitality Property | 49 Florida Ave
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