Keen-Summit Capital Partners LLC has been retained through the bankruptcy court to market this highly profitable 200-room boutique hotel on the Lower East Side of Manhattan. The Property is owned by 225 Bowery LLC (the “Debtor”). The Debtor is in a Chapter 11 bankruptcy proceeding before the U.S. Bankruptcy Court for the District of Delaware, Case No. 23-10094-TMH.
“Untitled at 3 Freeman Alley” was originally built in 1924 and recently underwent a $62M renovation to create this expertly designed hotel with dual terrace roof bar offering 360 degree views of the city for guests and private events. Guests are welcomed via Freeman Alley with its artistic and eclectic art vibe well known to the area.
- Property Highlights:
- 200-room 14-story upscale hotel with 63,599 SF
- Highly profitable; annual occupancy in excess of 75%
- Built in 1924; complete gut renovation & expansion in 2019
- Hotel offers a rooftop bar and terrace, a ground floor restaurant/café, a ground floor garden, and a typical complement of back-of-the-house facilities.
- Tourist Highlights:
- THINGS TO DO: < 10 minute walk to the Bowery Ballroom, New Museum, Museum of Street Art, Basilica of St. Patrick, SoHo High End shopping, Tenement Museum, Katz’ Deli
- SUBWAY: < 1/2 mile walk to 9 different lines
- Investment Highlights: This is a hotel that uses Airbnb as its reservation system. The hotel is fully compliant with NYC zoning rules and regulations and with its certificate of occupancy.
VIRTUAL DATAROOM – Additional details are available in a virtual dataroom. 225BoweryHotel-BankruptcySale.com