12 W 44th St
New York, NY 10036
The Mansfield · Hospitality Property For Sale · 46,492 SF

Ten-X and Mission Capital Advisors presents the opportunity to acquire a non-performing loan secured by the Mansfield Hotel, a 126-key hotel located in New York, NY. The historic landmark Mansfield Hotel enjoys a prime central location in the heart of Manhattan on 44th Street between Fifth and Sixth Avenues. Broadway theaters, fine restaurants, shopping, and celebrated sites are all within a short walking distance. The Property is proximate to several tourism demand drivers including some of Manhattan's most elegant hotels, world- renowned cultural and entertainment venues, premier office buildings and top caliber co-operative and condominium buildings. The twelve-story (+PH) full-service hotel was built in 1903 and extensively renovated in 1999 and again in 2006/2007 on a 5,000 SF ground-leased site in Midtown Manhattan. The Hotel features 13 double rooms, 34 queen rooms, 29 queen-superior rooms, 16 king rooms, 2 doubles and 27 queen suites. Also available is a one-of-a-kind duplex penthouse - a stunning two-story loft featuring two bathrooms, a custom fit Jacuzzi-style bathtub, a living area with 30-foot ceilings and a wet bar. Amenities include a fitness center and a Club Roo Amenities include a fitness center and a Club Room. There is no on-site parking. The current annual rent for the ground lease is $897,000 which will increase every 5 years with next step up 9/2019. The ground lease expires 8/31/2043 (with a two-year renewal term).