The Holiday Inn

New York, NY

Access Documents

Building Overview

  • Price $185,000,000
  • ADDRESS 99 and 103 Washington Street New York, New York 10006
  • Interest Fee Simple
  • Block - Lot 53 - 2 & 3
  • Lot Area 7,427 sqft.
  • Buildings 2
  • Gross Building Area 188,634 sqft.
  • 99 Washington St. 180,126 sqft.
  • 103 Washington St. 8,508 sqft.
  • Guestrooms 492
  • Labor Non-Union

Offering Summary

Marcus & Millichap has been selected to exclusively market for sale the fee simple interest in two contiguous pieces of prime commercial real estate in Lower Manhattan’s Financial District - home to the World Trade Center, Wall Street, the New York Stock Exchange (NYSE) and many of

the world’s most important financial institutions.

The world’s tallest (50 stories) Holiday Inn - at 99 Washington Street - and the mixed-use Landmark’s and the Preservation Committee-designated (LPC) adjacent property at 103 Washington Street, (together, “The Properties”) represent a significant opportunity in one of the finest real estate markets on the globe.

The Holiday Inn, located one block from the World Trade Memorial, is an upper-midscale full-service 492-key hotel designed by Gene Kaufman and completed in 2014. The adjacent building at 103 Washington Street, home to the iconic St. George Tavern, was constructed in 1812 as the

original Melkite congregation. 103 Washington recently benefited from a multimillion-dollar renovation.

The hotel’s location in Manhattan’s Financial District instantly makes it a trophy asset. It is just minutes from One World Trade Center, at 1,776 feet the tallest building in the Western Hemisphere and a symbol of America’s standing in the world. The World Trade Center - including

One World Trade and the surrounding buildings – is home to a roster of globally-significant, blue-chip companies including Spotify, McKinsey, Moody’s, and Conde Nast.

The Properties are encumbered by an assumable $137,025,000 CMBS mortgage which is the highlight of this transaction. The loan has highly attractive 5.259% fixed rate not available in the current environment.

Amenities

• Complimentary Fitness Center

• On-Site Business Center

• Full Service Housekeeping

• Complimentary WiFi

• Concierge Services
• Language Interpretation

• Wake Up Calls

• Private Limousine Service

• Baggage Hold

• ATM/Cash Machine

Location Highlights

A global financial, cultural, media & technology hub Manhattan is a global financial and media hub, home to a growing technology industry and the United Nations headquarters. High-rise buildings dominate the skyline and house countless Fortune 500 corporations. Manhattan’s deep-water port and proximity to the nation’s interior bolster its position as a world economic powerhouse. The city’s Central Park encompasses 843 acres in the center of the island and is considered one of the nation’s premier public spaces. The island of Manhattan is linked to the other boroughs and New Jersey by bridges, tunnels and multiple subway and rail lines. New York City has the largest economy in the nation and houses more Fortune 500 companies than any other city. Manhattan is a media hub, with major TV networks, newspapers, magazines, music-recording companies and technology companies. Manhattan is also a retail center that attracts both international and local customers. Retail sales in the borough typically grow faster than the U.S. rate. Technology is a growing industry, due in part to a highly skilled labor pool.

Location Map

Team

Nelson Lee

First Vice President
D: +1 917.885.1497
C: +1 917.885.0894

Justin Natalizio

First Vice President
D: +1 212.430.5208
C: +1 917.685.6988

Marcia Rose Yawitz

Senior Associate Broker
D: +1 212.430.5135
C: +1 917.544.2543

Nathan Ande

Associate
D: +1 212.430.5294
C: +1 513.780.5404

Nicholas Mulligan

Associate
D: +1 646.805.1414
C: +1 914.844.3137