34 East 32nd Street
New York, NY
The Offering
Summary
- Asking Price $45,000,000
- Total Keys 90
- King Rooms 81
- Two-Room Suites 9
Avison Young, as the exclusive agent, is pleased to offer for sale 34 East 32nd Street (the ‘Property’), also known as HGU New York, an iconic landmarked historical 90-key hotel located between Madison Avenue and Park Avenue South in the heart of NoMad. Built in 1905, this 35,778 SF Beaux Arts style property is one of the oldest continuously operating hotels in New York City.
The Property underwent a $25M repositioning in 2016 and is now a highly reviewed four-star lifestyle boutique hotel servicing a diverse high-end client base. HGU New York provides investors with a unique opportunity to acquire a turnkey, cash-flowing non-union property in the highly desirable NoMad submarket. Currently self-managed, there is additional upside potential available to a hotel operator with the experience needed to increase revenues and add to the bottom line.
