Lower East Side’s Blue Moon Hotel Now Asking $16.5M

Posted on: September 28th, 2012 at 9:09 am by

This image has been archived or removed.

Source: Christyborg

For this Lower East Side hotel, an actual sale happens once in a Blue Moon; and that time still has not arrived. The boutique lodge at 100 Orchard Street has been on the open market for the better part of a decade. Seven years, to be precise. In that time, the asking price rode the Cyclone, so to speak, accelerating to $35 million then hitting the steep drop to the most recent value of $19.5 million. Damn, we get whiplash just thinking about it!

Anyway, we bring this up because the 22-room property now lives with a different broker and a slightly lower ask. Eastern Consolidated currently reps the Blue Moon, peddling it for a price-chopped $16.5 million. Additional selling point is the “potential future use” which could be a bar or restaurant catering to the crowds.

The ground floor serves as a spacious hotel lobby for guests and their visitors and is more than ample in size to accommodate a number of potential future uses, such as a bar and restaurant that would cater to hotel guests as well as the tremendous volume of pedestrian traffic throughout the Lower East Side and on Orchard Street in particular. The ownership of the Blue Moon Hotel will continue to benefit from the strong in-place cash flow generated by the current well-established hotel operations as well as significant future upside through a reconfiguration of all or part of the building into a number of different uses.

It’s also worth noting that in 2011, the Wall Street Journal estimated that the hotel is probably only worth somewhere in the $10 million range.

Get comfortable, this story is nowhere near completion…

Recent Stories

About that Mammoth Matador Mural on Allen Street

Muralist Conor Harrington returned to the Lower East Side two weeks ago to impart one of the larger murals in the neighborhood. The five-story artwork, located on the Allen Street facade of 266 Broome – outside the Emma Peel Room – is striking and hard to miss. What appears to be a matador in stance […]

Justin Theroux Really Wants You to Know his Chrystie Street Bar is the ‘Diviest’ New Dive

Actor Justin Theroux and other nighlife impresarios opened Ray’s on Chrystie Street last week, taking the space previously occupied by Le Turtle. Best part about the arrival was receiving a thousand-word, ipso-facto media advisory explaining how the establishment is the “Lower East Side’s diviest new dive bar.” Here are some choice bytes: Ray’s joins New […]

After a Century on the Bowery, Faerman Cash Registers is Cashing out

brief documentary At one point in the mid-twentieth century, the Bowery boasted several cash register stores; soon, though, the count could be down to one. In operation for over a century, the iconic Faerman Cash Register Company is about to depart. The business recently put its building at 159 Bowery up for sale, and there […]

Taco Mix Opens Lower East Side Restaurant on Delancey Street

Taco Mix just launched its newest city outpost. Headquartered on Delancey Street, the fast casual establishment is a year in the making, and began serving last week. Founded on 116th Street in 1991, Taco Mix is known for its al pastor tacos, and considered by many as one of the city’s best. The Spanish Harlem-based […]

Street Artist Fixes ‘27 Club’ Mural on Rivington Street

Friends don’t let friends have their murals tagged without recourse. For the “27 Club” piece on Rivington Street, it meant Hektad to the rescue. You’ll recall that earlier this month, a group of no-name taggers scrawled over the headshots painted by Eduardo Kobra. This action prompted a response letter from the community about how amateur […]