Bankruptcy Auction: 200-Room Hotel | NYC Lower East Side

225 Bowery New York City, NY 10002

225 Bowery, New York City, NY, 10002
Bankruptcy Auction: 200-Room Hotel | NYC Lower East Side
225 Bowery, New York City, NY, 10002 225 Bowery, New York City, NY, 10002
FOR SALE Auction Property
Property Type:
Hotel
Amount:
Please Call Broker for Price

Cap Rate:
0.00%
Last Verified:
Oct 02, 2023

Daily Email Blast
0 times


Bankruptcy Auction Announcement: Keen-Summit Capital Partners LLC has been retained to market to sell the “Untitled at 3 Freeman Alley” Hotel, a highly profitable 200-room boutique hotel on the Lower East Side of Manhattan. Property Overview: 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. Auction Details: Bid Deadline: November 7, 2023 Auction Date: November 14, 2023 ​​​​​​​As this is a bankruptcy proceeding, brokers should be paid by their buyer. Sale subject to bankruptcy court approval.

Additional URLs

Map of 225 Bowery, New York City, NY, 10002

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.