The Real Deal New York

Partially constructed LES hotel for sale for $28M

May 02, 2012 02:30PM

An unfinished Lower East Side hotel is on the block for $28 million, Crain’s reported. The 16-story, 98-room hotel at 139-141 Orchard Street is being marketed by Massey Knakal Realty Services. The site can also be purchased in combination with a five-story, mixed-used building and vacant lot, located at 77-79 Rivington Street for a grand total of $35 million, Crain’s said.

“The hotel is topped out with concrete and there is steel and some electrical work and plumbing put in,” said Michael DeCheser, director of sales for Massey Knakal. “It’s a rare opportunity to complete a boutique hotel.” [Crain’s]