Royal Regency Hotel

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Featured For Sale
Royal Regency Hotel, 165, Tuckahoe Road, Nepperhan, City of Yonkers, Westchester County, New York, 10710, United States
Featured For Sale
Royal Regency Hotel, 165, Tuckahoe Road, Nepperhan, City of Yonkers, Westchester County, New York, 10710, United States
  • Submit Offers
  • Hotel
  • Property Type
  • 82,900
  • Gross SF
  • 3
  • Stories
  • 93
  • Keys

Description

Besen Partners is pleased to offer for sale the fee-simple interest in the 1995-built, 93-Key Royal Regency Hotel (“Hotel” or “Property”) located in Yonkers, NY. Investors have an opportunity to acquire a fully renovated operational hotel that has shown strong performance without a franchise brand or centralized reservation system in place. This independent property has gone through extensive renovations and has guestrooms at par with the leading brand standards. The property has an additional sources of revenue from catering and events that has generated over $1M in top line revenues YOY. Investors have the option of streamlining and lowering expenses on the room and catering income, through their own management team, collaborating with a seasoned catering operator, leasing out the space to a third party F&B concept for passive income or capture the F&B into the hotel programming and repositioning this property as a Full Service Hotel. With the high build quality / expansive amenity spaces this property is an ideal for multiple full service or select service branding options. The hotel also has an existing lease in place with Hertz as a pick up drop off location with a dedicated Hertz Car Rental desk strategically positioned at a secondary entrance.

Though the property is not currently subscribed to STR, the comp set identified has shown that this property has room to increase RevPAR and grow corporate business. Situated in a high barrier to entry market that is above a $100 RevPAR. The municipality of Yonkers and Westchester County being a difficult locality to develop has limited the increase in new supply. High development timelines and costs including labor, materials and entitlements makes this asset an attractive acquisition for investors priced well below its replacement value. The property is situated right off the exit of a major highway (87) and is along a naturally sloped elevated land parcel allowing high visibility and signage exposure to ongoing traffic.

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Details

  • Price: Submit Offers
  • Gross SF: 82,900
  • Property Type: Hotel
  • Property Status: Featured, For Sale
  • Stories: 3
  • Keys: 93
  • Zoning: BR
  • Acres: 2
  • City Yonkers
  • State/County New York
  • Neighborhood/Area Nepperhan

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Anudeep Gosal
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