HGU New York | 34 E 32nd St
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HGU New York 34 E 32nd St
90 Room Hotel New York, NY 10016 For Sale
Investment Highlights
- This rare offer includes a renowned four-star lifestyle boutique travel destination hotel, spanning 90 spacious rooms over ten stories.
- HGU has received accolades in CNN, Travel Weekly, and Guild Magazine, and 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 self-managed by an investment group with a single hotel asset and is unbranded.
Executive Summary
Alfa Development is offering for sale the fee simple interest HGU New York, one of the oldest continuously operating hotels in New York City.
Established in 1905 with a prime hospitality location in the heart of midtown Manhattan, this prestigious hotel underwent a $25MM transformation in 2016 and has attracted a stable, diverse clientele to its NoMad location just off Park Avenue.
A beaux-arts masterpiece designed by Frederick C. Browne, the hotel spans 90 spacious rooms over ten stories. It includes a 60 seat restaurant, two bars, a lounge, café, and an exclusive roof deck bar. It is being offered fully unencumbered.
HGU is currently self-managed by an investment group with a single hotel asset and is unbranded. It offers an excellent opportunity for a hotel group to rebrand or bring proprietary sales channels into the mix thus dramatically increasing revenues and EBITDA over current levels.
As a four-star lifestyle boutique travel destination, HGU has received high-level travel and destination accolades in CNN, Travel Weekly, and Guild Magazine, and was named one of the "Best Boutique Hotels in New York City" by Forbes.
With an excellent history, reputation, and marketable assets, the hotel presents an opportunity for a successful travel enterprise investment in the heart of New York City.
Established in 1905 with a prime hospitality location in the heart of midtown Manhattan, this prestigious hotel underwent a $25MM transformation in 2016 and has attracted a stable, diverse clientele to its NoMad location just off Park Avenue.
A beaux-arts masterpiece designed by Frederick C. Browne, the hotel spans 90 spacious rooms over ten stories. It includes a 60 seat restaurant, two bars, a lounge, café, and an exclusive roof deck bar. It is being offered fully unencumbered.
HGU is currently self-managed by an investment group with a single hotel asset and is unbranded. It offers an excellent opportunity for a hotel group to rebrand or bring proprietary sales channels into the mix thus dramatically increasing revenues and EBITDA over current levels.
As a four-star lifestyle boutique travel destination, HGU has received high-level travel and destination accolades in CNN, Travel Weekly, and Guild Magazine, and was named one of the "Best Boutique Hotels in New York City" by Forbes.
With an excellent history, reputation, and marketable assets, the hotel presents an opportunity for a successful travel enterprise investment in the heart of New York City.
Property Facts
| Sale Type | Investment | Building Size | 35,778 SF |
| Property Type | Hospitality | No. Rooms | 90 |
| Property Subtype | Hotel | No. Stories | 10 |
| Building Class | B | Year Built/Renovated | 1910/2015 |
| Lot Size | 0.09 AC | Corridor | Interior |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 35,778 SF |
| No. Rooms | 90 |
| No. Stories | 10 |
| Year Built/Renovated | 1910/2015 |
| Corridor | Interior |
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 | $560.00 | - |
| Guest Room | 81 | $270.00 | - |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,243,660 | |
| Land Assessment | $2,686,500 | Total Assessment | $8,930,160 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,686,500
Improvements Assessment
$6,243,660
Total Assessment
$8,930,160
zoning
| Zoning Code | C5-2 (Central commercial district with continuous retail frontage intended for offices and retail establishments that serve the entire metropolitan region) |
| C5-2 (Central commercial district with continuous retail frontage intended for offices and retail establishments that serve the entire metropolitan region) |
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HGU New York | 34 E 32nd St
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