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Unfinished Hotel at 139 Orchard Put Up for Sale

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There’s been lots of speculation about the so-called “Allen Street Hotel,” going up at 139 Orchard/138 Allen Street. Now an interesting item has popped up on LoopNet.

According to a listing updated March 16th, Misrahi Realty is offering the 16-story, 98 room hotel to prospective buyers. Price: undisclosed.

More details:

Misrahi Realty Corp. is presenting a rare Hotel for Sale opportunity:

16 Story HOTEL FOR SALE

– Foundation
– Frameworks have been built
– Plans Approved For Hotel Suite
– $24.5M Loan available
– Tax Abatement in place

92 Rooms at 269 sq. ft.
6 Suites at 470 sq. ft.
Total sq. ft. from lobby to 15th floor =39,380 sq. ft.
Second Floor To 15th Floor Gross sq. ft. =33,881, Net sq. ft. =24,742 sq. ft.
Lobby sq. ft. =5,500 sq. ft.
Basement sq. ft.=4,880
Total Sq. Ft. Of Building=44,260 sq. ft.

+ Two Story Restaurant (119 seats)

+ a 5 story walk up building with 16 Free Market residential units or hotel suites

Lower East Side,approved Plans For Hotel Site. Ready To Build.

+ Please note: the appraised value of the completed hotel does not include the commercial space for lease.

+ Resturant available for lease 77-79 Rivington St. at $30,000.00 per month, for additional information please see Resturant and Kitchen Plans

Located in between Delancey and Rivington Streets

Starbucks, Lucky Jack’s Bar, Thompson Hotel, Rivington Hotel

Last month, Bowery Boogie found renderings of the hotel on the architect’s web site (since removed). We’ll put a call into Misrahi to see if we can get more info.

UPDATE 4:27pm: Misrahi declines to comment about this listing, and it has now been removed from LoopNet.

 

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