515 9th Ave - Hospitality FOR SALE
New York, NY 10018 |
515 9th Ave
New York, NY 10018
HIGHLIGHTS
- Loan secured by a first mortgage on the 86-room Truss Hotel Times Square, a structured parking garage, and a commercial unit leased to a restaurant.
- Loan transferred to special servicing in May 2020 for imminent monetary default and a receiver was later appointed in March 2022
- Motion for summary judgment approved in April 2024, and an order appointing a referee was entered into in June 2024
- Hotel is ideally located on the west side of Midtown Manhattan in Times Square– walking distance to all core leisure and corporate demand
- Times Square is one of the most iconic and globally recognized destinations in the world, often referred to as "The Crossroads of the World"
- Port Authority Bus Terminal accommodates more than 65 million travelers annually, making it the world’s busiest bus terminal
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Truss Hotel
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
45222
STORIES
12
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
2013
PARKING SPACES
10
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
C1-7A
APN/PARCEL ID
0736-1001
