LIMITED SERVICE HOTELS OR APARTMENT CONVERSION Hudson River Hotel & Casamia 36 Hotel
442 & 449 WEST 36TH ST, NEW YORK, NY
NYC WESTSIDE HOTELS FOR SALE:
KW COMMERCIAL PRESENTED BY: 7777 Alvarado Rd., Suite 702 TONI-DIANE DONNET CHRISTOPHER PARRINO, ESQ. La Mesa, CA 91942 Broker Senior Associate 0: 619.469.0700 O: 619.308.6860 C: 619.549.8072 [email protected] [email protected] CA DRE #01938322 CA DRE #01848593 Broker - CA DRE #120623 Attorney 442 & 449 WEST 36TH ST, NEW YORK, NY | Hudson River & Casamia 36 Hotels
OFFERING SUMMARY PROPERTY OVERVIEW KW Commercial is proud to present a portfolio of two profitable PRICE - HUDSON RIVER: $22.4M independent limited-service non-union hotels in the heart of New York City's West Side where commercial development is exploding. The properties are NOI: $1,394,176 just blocks away Hudson Yards and Manhattan West.
56 KEYS: While the Hotels are profitable, zoning (R-8A/HY/C2-5) permits converting the properties to mulit-family apartments - condos, coops, or SRO Units. FLOORS: 15
BUILDING: 20,344 SF LOCATION OVERVIEW Standing on 36th Street as the gateway to the vibrant and electric West Side PRICE - CASAMIA 36: $15.6M Developments, the Hudson River and Casamia 36 Hotels are just steps away from the rich mosaic culture, fine dining, shopping, and nightlife. NOI: $973,457 A mere 5-minute walk to both the Manhattan West Development and the KEYS: 38 Hudson Yards Development. These two major projects contain millions of square feet of office, retail, residential, and hotel space. This prime location FLOORS: 10 also offers guests close proximity to the Jacob Javit's Convention Center, the Broadway Theatre District, Central Park, Fifth Avenue shopping and BUILDING: 12,340 SF major NYC transportation.
ZONING: R-8A/HY/C2-5
Each Office Independently Owned and Operated kwcommercial.com 2 MANHATTAN WEST
THE SCOPE
Manhattan West is an eight-acre, six-building mixed-use development located in Manhattan’s new Hudson Yards district. Stretching from 9th Avenue to 10th Avenue and 31st Street to 33rd Street. More than five million square feet of custom designed state-of-the-art class-A office space, luxury apartments, a boutique hotel, curated retail amenities, chef-inspired culinary options, and two acres of open space. Manhattan West provides unparalleled transportation access. The site sits directly between the soon-to-be- redeveloped Penn Station and the new 7-train station at Hudson Yards. It is one block from the A, C, E, 1, 2, 3 and 7 subway lines, New Jersey Transit, the Long Island Railroad and Amtrak.
THE MASTER PLAN
Office Towers • One Manhattan West (New Office Tower) – The 67 story, 2-million-square-foot office building currently under construction will be anchored by tenant Skadden Arps, Slate, Meagher & Flom LLP, McKool Smith and the new headquarters for the NHL. The project is scheduled for completion in the fourth quarter of 2019. • Two Manhattan West (New Office Tower) – A second two-million-square-foot office tower will be constructed when an anchor tenant is secured. rd • Five Manhattan West (Existing Office Building) – Formerly known as 450 West 33 Street, this 1.7- million-square-foot 16 story building is currently undergoing a $353 million redevelopment program – designed by celebrated architect Joshua Prince-Ramus of REX – that will fully modernize and integrate the building into the Manhattan West campus. • The Lofts (Existing Office Building) – At 202,000-square-feet, The Lofts at Manhattan West will feature 13 stories, 15,000-square-foot floor plates and a 3,000-square-foot rooftop terrace. Mixed-Use Building/Plaza • The Eugene – The 844-unit, 62 story luxury residential tower recently opened in March 2017 consists of 20% studio, one to three-bedroom units priced at affordable rates. • Boutique Hotel/Condo – Initial plans envision a hotel or further residential units. • Plaza and Retail – The Manhattan West campus will be transected by a two-acre public park – designed by High Line architects James Corner Field Operations – featuring year-round arts and events programming by Arts Brookfield which produces over 400 events globally. Over 200,000 square-feet of carefully curated food, retail and pop-up experiences will activate the site.
1 THE NEIGHBORHOOD
Hudson Yards will include more than 18 million square feet of commercial and residential space, along with more than 100 shops, a collection of restaurants, approximately 4,000 residences, affordable housing, The Shed, 14 acres of public open space, a 750-seat public school, the inaugural Equinox Hotel® with 212 rooms, and a first-of-its-kind microgrid and co-gen plant. Hudson Yards is planned as the first LEED platinum neighborhood and has already achieved WiredScore certification.
EASTERN YARD WESTERN YARD 10 Hudson Yards 1,800,000 Office 2,000,000 30 Hudson Yards 2,600,000 Residential 4,000,000 50 Hudson Yards 2,900,000 Retail 100,000 55 Hudson Yards 1,300,000 School 120,000 The Shops & Restaurants* 1,000,000 6,220,000 GSF Retail Pavilion 50,000 Equinox Hotel® 220,000 Residential 1,870,000 The Shed 200,000
11,940,000 GSF
*720,000 Leasable SF OFFICE RETAIL RESIDENTIAL HOTEL
OPEN SPACE: 14 ACRES TOTAL: 18,160,000 GSF; 28 ACRES HUDSON RIVER HOTEL & CASAMIA 36 HOTEL | Manhattan West & Hudson Yards
Manhattan West: 6+ Million Square Fee of Office, Retail, Residential, and Hospitality
Hudson Yards: 18+ Million Square Feet of Office, Retail, Residential, and Hospitality
Each Office Independently Owned and Operated kwcommercial.com 5 442 WEST 36TH ST, NEW YORK, NY | Hudson River Hotel
Each Office Independently Owned and Operated kwcommercial.com 6 449 WEST 36TH ST, NEW YORK, NY | Casamia 36 Hotel
Each Office Independently Owned and Operated kwcommercial.com 7 HUSON RIVER HOTEL & CASAMIA 36 HOTEL | Regional Map
Each Office Independently Owned and Operated kwcommercial.com 8 HUSON RIVER HOTEL & CASAMIA 36 HOTEL | Location Maps
Each Office Independently Owned and Operated kwcommercial.com 9 HUSON RIVER HOTEL & CASAMIA 36 HOTEL | Demographics Map
POPULATION 0.25 MILES 0.5 MILES 1 MILE
Total population 4,948 23,841 109,488
Median age 36.0 39.8 38.1
Median age (male) 38.9 40.0 39.2
Median age (Female) 32.8 39.0 37.0
HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE
Total households 2,549 12,726 59,507
# of persons per HH 1.9 1.9 1.8
Average HH income $102,628 $91,343 $116,513
Average house value $773,104 $772,682 $750,231
* Demographic data derived from 2010 US Census
Each Office Independently Owned and Operated kwcommercial.com 10