New York Investment Property
New York Investment Property
New York Licensed Real Estate Broker
120 Lafayette St, New York, NY 10013
Castle Avenue Partners @ Rutenberg Realty has been retained as exclusive broker to market 120 Lafayette St, New York, NY 10013, a prime retail plus 28-room limited service hotel building. The recently renovated property is 11,047 sqft, 5 storeys, of which 1,460 sqft is retail space.
Investment Drivers: Booming retail rents for prime locations, strong RevPAR growth for hotel, high occupancy rate, limited supply.
Location: Intersection of Lafayette and Canal Streets in thriving
Chinatown / Soho area. Canal Street subway station is located in front of the property.
Pro Forma Financials:
Hotel Revenue: 
$1.82m hotel operations
$1.82m hotel operationsRentals $1.50m (retail + hotel)
$1.50m (retail + hotel) Total Revenue $3,324,270
$3,324,270 Expenses: $1,267,075
$1,267,075 Net Operating Income: $2,057,195
$2,057,195Asking Price: $21,000,000
Cap rate: 10%
Call: Weimin Tan 212.380.6134, tan@castle-avenue.com
Castle Avenue Partners
Manhattan, New York Properties
Copyright 2011 Castle Avenue Partners @ Rutenberg Realty
127 E 56 ST, 4TH FL, NEW YORK, NY 10022 USA212.682.8494hello@castle-avenue.com
212.682.8494hello@castle-avenue.com
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