Property Description

Property Description c u IIIIIIII AsKHEmF FIELD Hotel Shocard 206 West 41St Street Property Features Location Block / Lot Lot Dimensions Building Dimensions Hotel Keys stories Gross Square Footage Zoning Base ZFA sot Square Footage 'axes (16/17) South side of West 41st Street between Seventh and Eighth Avenues 1012 / 37 25' x 98.75' (Approx.) 25' x 98.75' (Approx.) 47 6 11.562 C6-7 15.00 2.469 (Per Public Record) (Special Midtown District) (Per Public Record) $290.304 (Paid by Lessee) Asking Price: Ownership Requests Proposals Cushman & Wakefield has been retained on an exclusive bas,.:: to market the Hotel Shocard. Located at 206 West 41st Street. the 'Property" (or the -Hotel") offers an attractive opportunity to acquire a leasehold ownership interest in a newly renovated and well-furnished. non-union. upscale boutique hotel in a prime Times Square location. The property is located on the south side of West 41st Street between Seventh and Eighth Avenues - the established epicenter of New York's booming hospitality market. This location offers excellent access to a vast commercial market. endless amenities and attractions. and major transportation lines including the Times Square - 42nd Street Subway Station located one block to the east. allowing guests to benefit from accessibility to other areas throughout Manhattan and the boroughs. The Property totals six-stories and 11.562 square feet. It features 47 keys. including two spacious penthouse guest rooms with large, exterior balconies. The Property is also home to a restaurar • operated by a third party. Gleason's Tavern. one of the area's mo: popular restaurant and bar destinations. The Hotel was recently renovated and now features all new guest rooms and public areas redesigned to capture a modern and well-appointed style that finds it's inspirations from the excitement and culture of the broader Times Square area. Mir For More Information, Please Contact Exclusive Agen Robert Knakal Jonathan Hageman Andrew Posll Chairman Executive Managing Director Director (212) 660 7777 (212) 660 7773 (410) 347 7573 Michael Allen Associate (212) 589 5166 Cushman & Wakefield 275 Madison Ave. 3rd F I New York. NY 10016 phone: +1212 696 2500 Guthman & Wakefield Copyright 2017 No warranty Or reoresentatico. express or imosect is made to me accuracy or completeness Of the iOlpmati0n contained herein, and same is submitted Svbie< I TO &TOM Omission,. Change Or Date. rental Or Other COnclitient, w, dldrmrylwlm0ut n00Ce. and 10 any SpeCial listing Conditions imp04ed by me prObetty Owner(s). AS applicable. we make nOreiNesentati0,1 as t0 the Condition 01 me °roomy (Or prepertreS) in question EFTA00794236 c u IIIIIIIh AsKHEriFtENL D Hotel Shocard 206 West 41st Street FOR SALE OR LEASE THE OPPORTUNITY The leasehold interest in the Property is being offered for sale or lease. Currently, the owners have a ground lease in place that extends through 2037, with a thirty- five (35) year extension option. The current offering presents two distinct paths to acquire the Property: (1) buy the leasehold interest outright, or, (2) enter into a sublease with the current hotel lessee to take over the hotel operations at the Property in exchange for an annual NNN rent payment. Either course of action presents a hotelier with the opportunity to own and operate a unique boutique hotel in one of the most desired locations on the planet. EIGHTH AVE W 4IST ST W 39TH ST < "THE BOWTIE" W 43RD W 40 2ND ST co W 38TH ST N. RrICKFPFI I FR _ CENTER BRYANT PARK j i (-1 CO )- —1 cc am w I— NO WEST art ST 25' (#the Xclu Bork Llmc5 BUILDING TOLFZANGS BLOCK 1012 WEST 4Oth ST 3AY H1N3A3S Asking Price: Ownership Requests Proposals For More Information, Please Contact Robert Knakal Chairman (2)2)660 7777 Jonathan Hageman Executive Managing Director (212) 660 7773 Andrew Posil Director (410) 347 7573 Michael Allen Associate (212) 589 5166 Cushman & Wakefield 275 Madison Ave. 3rd Fl New York. NY 10016 phone: +1 212 696 2500 Coshroan R veaketodCoosegbt 2017 No warranty 0, reoresentatton, express or ‘mo. Cd is made to the ,<covacy d Completeness of the intormation (Onto ned herein and tame is submitted subje( 10 e',Q oronsons charge or ofC e ontal Or c!her conditions ..v1hdf-re.,I .vilt,OL., no, o, And lc any coroi'io^s ,freso, ed n,,(,) As applicable. vie make no rewesent.tion to T.., ccndn.9n of •e . CrODerly (Or EFTA00794237