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61 Chrystie St 40,500 SF Specialty Building Offered at $28,000,000 in New York, NY 10002
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to exclusively present 61–63 Chrystie Street, a hotel located on the west side of Chrystie Street between Hester and Canal Streets in the Lower East Side, a vibrant and rapidly growing sub-market of Manhattan.
The property spans ±40,529 square feet and is comprised of 77 hotel rooms, along with 1 commercial garage. The property is currently 100% occupied by the City of New York, which utilizes the rooms as a shelter, providing immediate, stable cash flow of approximately $4,187,645. Furthermore, this property presents a compelling value-add or user opportunity to reposition and renovate into a high-end hospitality concept with modernized units.
Situated at 61–63 Chrystie Street, the property benefits from its location at the convergence of Chinatown, Lower East Side, and NoLiTa, an area that continues to attract shoppers, tourists, and residents alike. The neighborhood’s ongoing growth, combined with its mix of historic character and modern developments, further enhances the property’s long-term appeal.
The property spans ±40,529 square feet and is comprised of 77 hotel rooms, along with 1 commercial garage. The property is currently 100% occupied by the City of New York, which utilizes the rooms as a shelter, providing immediate, stable cash flow of approximately $4,187,645. Furthermore, this property presents a compelling value-add or user opportunity to reposition and renovate into a high-end hospitality concept with modernized units.
Situated at 61–63 Chrystie Street, the property benefits from its location at the convergence of Chinatown, Lower East Side, and NoLiTa, an area that continues to attract shoppers, tourists, and residents alike. The neighborhood’s ongoing growth, combined with its mix of historic character and modern developments, further enhances the property’s long-term appeal.
PROPERTY FACTS
| Price | $28,000,000 | Building Class | C |
| Price Per SF | $691.36 | Lot Size | 0.12 AC |
| Sale Type | Investment or Owner User | Building Size | 40,500 SF |
| Property Type | Specialty | No. Stories | 11 |
| Property Subtype | Shelter | Year Built | 2020 |
| Zoning | C6-1G | ||
| Price | $28,000,000 |
| Price Per SF | $691.36 |
| Sale Type | Investment or Owner User |
| Property Type | Specialty |
| Property Subtype | Shelter |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 40,500 SF |
| No. Stories | 11 |
| Year Built | 2020 |
| Zoning | C6-1G |
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Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 0303-0025 | Improvements Assessment | $2,199,510 |
| Land Assessment | $837,000 | Total Assessment | $3,036,510 |
PROPERTY TAXES
Parcel Number
0303-0025
Land Assessment
$837,000
Improvements Assessment
$2,199,510
Total Assessment
$3,036,510
CONTACTS
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Bobby Carrozzo -
Michael DeCheser -
Michael Gembecki -
Robert Burton -
Evan Lush -
Cushman & Wakefield
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61 Chrystie St
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