611 Degraw St - Hospitality FOR SALE
Brooklyn, NY 11217 |
611 Degraw St
Brooklyn, NY 11217
HIGHLIGHTS
- Fee-simple interest in the REO, non-union, independent 42-room The Brooklyn Union Hotel.
- Property is ideally located in the Gowanus neighborhood of Brooklyn and is offered at a substantial discount to replacement cost.
- Recent neighborhood rezoning approval in 2022 has been instrumental in fostering new projects and forward-looking growth prospects.
- Unencumbered of brand, management, and debt, providing prospective buyers with an opportunity for alternative branding or use pending zoning approval.
- Favorable tax abatements via the Gowanus industrial & commercial incentive program will benefit a new buyer and continue through 2037.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
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BUILDING DETAILS
PROPERTY NAME
Lender-Owned Brooklyn NY Hotel
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
21000
STORIES
4
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
2011
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
M1-4
APN/PARCEL ID
00420-0052
