100-110 S Bridge St
Staten Island, NY 10309
100-110 South Bridge Hotel · Hospitality Property For Sale · 25,341 SF
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INVESTMENT HIGHLIGHTS
- 80 ROOM BEST WESTERN VIB BOUTIQUE HOTEL
- YEAR ONE PROJECTED NOI: $1.08M
- ANTICIPATED COMPLETION DATE- END JULY 2019
- YEAR ONE PROJECTED REVENUE: $2.9M
- 15 YEAR TAX ABATEMENT (VALUE $3M)- see attached documents
PROPERTY FACTS
Property Type | Hospitality |
Property Subtype | Hotel |
Building Class | B |
Lot Size | 0.50 AC |
Construction Status | Abandoned |
Building Size | 25,341 SF |
No. Stories | 4 |
Parking Ratio | 1.78/1,000 SF |
Corridor | Interior |
AMENITIES
- Fitness Center
- High Speed Internet Access
- Public Access Wifi
ABOUT 100-110 S BRIDGE ST , STATEN ISLAND, NY 10309
The property is a ground up construction of an 80 key, Best Western Vib Urban Boutique Hotel located on South Bridge Street Staten Island, NY. The $14.3 M project is 75% completed and will include an open air two story lobby with waterfall, full size gym, catering and beverage / bar facilities. The 25,000 + SF modern hotel is ideally situated and in close proximity to Manhattan, New Jersey, and the Newark airport. There are no similar modern hotels in the area The hotel will retain a 99 year ground lease and is expecting a 15 year NYC real estate tax abatement valued at $3M. PROJECTIONS FOR YEAR ONE: GROSS REVENUE $2.9 M NOI $1.08 M OCCUPANCY 70% ADR $149 REVPAR $104
PROPERTY TAXES
Parcel Numbers |
Multiple
|
Improvements Assessment | $305,550 |
Land Assessment | $263,250 | Total Assessment | $568,800 |
ZONING
Zoning Code | M1-1 |
Listing ID: 15351796
Date on Market: 3/5/2019
Last Updated:
Address: 100-110 S Bridge St, Staten Island, NY 10309
The Charleston Hospitality Property at 100-110 S Bridge St, Staten Island, NY 10309 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.