World-Famous Algonquin Hotel New York For Sale

By Dev Anand | 28 January 2020

Location: Times Square, between 5th & 6th Street, New York, NY, USA

Name: The Algonquin Hotel – four star

No. of Keys: 181

The Property: A long-standing symbol of classic style and seductive eccentricity, The Algonquin, Hotel Times Square has withstood the test of time. Designated as a New York City Historic Landmark, the hotel’s doors originally opened in 1902; since that time, they have earned a reputation for total excellence. Step off of Manhattan’s West 44th Street and into the hotel, where an intimate yet lively lobby welcomes guests. Accommodations feature plush bedding, sleek bathrooms and modern technology, setting the stage for relaxation and productivity. Dine at Round Table, the renowned restaurant, or visit Blue Bar to sip on an expertly prepared martini and eavesdrop on Theatre District gossip. When you’re ready to explore, a wealth of iconic attractions are nearby, including Times Square, Rockefeller Center, Radio City Music Hall, Central Park and the shops of Fifth Avenue. Whatever brings you here, we know you’ll return for years to come to experience the enduring charm of The Algonquin, Hotel Times Square. Two small meeting rooms. LS

Main Photo: The exterior of The Algonquin

Tenure: Freehold

Brand/Management: Currently under the Autograph Collection brand from Marriott

Financials: Financials available upon signing of a NDA. Currently enjoying great occupancy – in excess of 90%

Current Owner: Private family until 1987. Now in the hands of a major US hotel group, who sold it 2011 in US$82m but still manage it.

Agent: Local agent in partnership with The Hotel Property Company

Guide Price: US$118.5m to include fees

Guide Price per Key: Just above US$650k

Date Posted: January 2020

THPT Comment: Unique opportunity to acquire this world-famous hotel, with it’s rich literary history.

Contact us for further information

This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”

Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email [email protected].

MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.

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