447 Union Avenue - Setup Flyer - Massey Knakal
UNION Cushman & Wakefield is pleased to present a brand-new, fully-built hotel located at 447 Union Avenue in Williamsburg, Brooklyn – less than 100 feet from the combined L & G Train Station.
The five-story hotel hosts 52 guest rooms furnished with Queensize beds, flat screen TVs, and in-room desks and chairs. The property carries a 20-year franchise agreement with La Quinta and presents the opportunity to immediately capitalize on the neighborhood’s thriving hotel market with strong average daily rates (ADR) and high occupancy. Should an independent hotelier wish to rebrand the hotel, the franchise agreement may be canceled for a “liquidated damages” fee of $100,000 (franchise agreement is available upon request for independent verification).
52 KEYS
5 STORIES | 14,219 GSF
AVERAGE DAILY RATE:
$200+
20-YEAR FRANCHISE AGREEMENT
ELEVATOR-ACCESSIBLE ROOF
ASKING PRICE:
OWNERSHIP REQUESTS PROPOSALS
Located on a desirable corner lot with tremendous visibility, the property can capture additional value by converting the basement and a portion of the first floor into a retail use in a market commanding rents up to $100 per square foot. Additionally, the elevator-accessible roof offers a fantastic opportunity to develop a food and beverage operation. 447 Union Avenue is surrounded by hotspots like Fette Sau, Williamsburg Cinemas, Union Pool, Lilia and Llama Inn among many others. The hotel also benefits from its close proximity to the L & G Train Station directly across the street, offering quick access to Manhattan, Bushwick, Long Island City, and Brooklyn Heights. The Brooklyn Queens Expressway brings vehicular traffic to the location from airports serving the New York Metropolitan Area. 447 Union presents a rare opportunity to acquire a brand new hotel in a premier Williamsburg location well-poised to generate strong cash-flow and to realize long-term appreciation through continued ADR growth and improving underlying real estate value.
For further information, please contact exclusive agents: Brendan Maddigan
Mark Lively
Ethan Stanton
Michael Gigante
718 307 6507
718 307 6524
718 307 6553
718 307 6555
Senior Managing Director [email protected]
Director
[email protected]
Associate Director [email protected]
Senior Associate
[email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
20
V ER N O N B LV H U D N TE R S PO IN T C O U R T SQ U 21 A st R E ST R EE T
G R A N D
C
EN TR A L
UNION G 7
min*
14 t N hS IO T N RE SQ ET U A R 3r E d AV EN U E 1s tA V EN U E
MANHATTAN
G
U
8t
A C E
7
6t
h
h
AV
AV
EN
EN
U
U
E
E
4 6 5 S MNRR
min*
F M 1 2 3
4 5 6 N Q R
G
MANHATTAN
m ile 0.5
s
L 1
NEIGHBORHOOD AMENITIES 1. LILIA 2. REUNION 3. LLAMA INN 4. UNION POOL 5. SUGARBURG 6. ZONA ROSA 7. ALLIGATOR LOUNGE 8. SUZUME 9. HUCKLEBERRY BAR 10. LE BARRICOU
11. BURNSIDE 12. THE WEST BROOKLYN 13. BARCADE 14. STARBUCKS 15. MOMOFUKU MILK BAR 16. THE COMMODORE 17. FETTE SAU 18. ROEBLING TEA ROOM 19. EXTRA FANCY 20. WILLIAMSBURG CINEMAS
W
IL
20 LI
AM
SB
UR
G
BR
ID
GE
19 18
17 16 15
LA QUINTA
2
YN KL OO R B
Y XP SE N E UE -Q
3
4 5
G L 14 12
6 7 8
L
13 11
10
9
* Train times estimates per MTA Trip Planner
For further information, please contact exclusive agents: Brendan Maddigan
Mark Lively
Ethan Stanton
Michael Gigante
718 307 6507
718 307 6524
718 307 6553
718 307 6555
Senior Managing Director [email protected]
Director
[email protected]
Associate Director [email protected]
Senior Associate
[email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
The five-story hotel hosts 52 guest rooms furnished with Queensize beds, flat screen TVs, and in-room desks and chairs. The property carries a 20-year franchise agreement with La Quinta and presents the opportunity to immediately capitalize on the neighborhood’s thriving hotel market with strong average daily rates (ADR) and high occupancy. Should an independent hotelier wish to rebrand the hotel, the franchise agreement may be canceled for a “liquidated damages” fee of $100,000 (franchise agreement is available upon request for independent verification).
52 KEYS
5 STORIES | 14,219 GSF
AVERAGE DAILY RATE:
$200+
20-YEAR FRANCHISE AGREEMENT
ELEVATOR-ACCESSIBLE ROOF
ASKING PRICE:
OWNERSHIP REQUESTS PROPOSALS
Located on a desirable corner lot with tremendous visibility, the property can capture additional value by converting the basement and a portion of the first floor into a retail use in a market commanding rents up to $100 per square foot. Additionally, the elevator-accessible roof offers a fantastic opportunity to develop a food and beverage operation. 447 Union Avenue is surrounded by hotspots like Fette Sau, Williamsburg Cinemas, Union Pool, Lilia and Llama Inn among many others. The hotel also benefits from its close proximity to the L & G Train Station directly across the street, offering quick access to Manhattan, Bushwick, Long Island City, and Brooklyn Heights. The Brooklyn Queens Expressway brings vehicular traffic to the location from airports serving the New York Metropolitan Area. 447 Union presents a rare opportunity to acquire a brand new hotel in a premier Williamsburg location well-poised to generate strong cash-flow and to realize long-term appreciation through continued ADR growth and improving underlying real estate value.
For further information, please contact exclusive agents: Brendan Maddigan
Mark Lively
Ethan Stanton
Michael Gigante
718 307 6507
718 307 6524
718 307 6553
718 307 6555
Senior Managing Director [email protected]
Director
[email protected]
Associate Director [email protected]
Senior Associate
[email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
20
V ER N O N B LV H U D N TE R S PO IN T C O U R T SQ U 21 A st R E ST R EE T
G R A N D
C
EN TR A L
UNION G 7
min*
14 t N hS IO T N RE SQ ET U A R 3r E d AV EN U E 1s tA V EN U E
MANHATTAN
G
U
8t
A C E
7
6t
h
h
AV
AV
EN
EN
U
U
E
E
4 6 5 S MNRR
min*
F M 1 2 3
4 5 6 N Q R
G
MANHATTAN
m ile 0.5
s
L 1
NEIGHBORHOOD AMENITIES 1. LILIA 2. REUNION 3. LLAMA INN 4. UNION POOL 5. SUGARBURG 6. ZONA ROSA 7. ALLIGATOR LOUNGE 8. SUZUME 9. HUCKLEBERRY BAR 10. LE BARRICOU
11. BURNSIDE 12. THE WEST BROOKLYN 13. BARCADE 14. STARBUCKS 15. MOMOFUKU MILK BAR 16. THE COMMODORE 17. FETTE SAU 18. ROEBLING TEA ROOM 19. EXTRA FANCY 20. WILLIAMSBURG CINEMAS
W
IL
20 LI
AM
SB
UR
G
BR
ID
GE
19 18
17 16 15
LA QUINTA
2
YN KL OO R B
Y XP SE N E UE -Q
3
4 5
G L 14 12
6 7 8
L
13 11
10
9
* Train times estimates per MTA Trip Planner
For further information, please contact exclusive agents: Brendan Maddigan
Mark Lively
Ethan Stanton
Michael Gigante
718 307 6507
718 307 6524
718 307 6553
718 307 6555
Senior Managing Director [email protected]
Director
[email protected]
Associate Director [email protected]
Senior Associate
[email protected]
Cushman & Wakefield Copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
