The Baltic Hotel

Besen Partners Hotel Advisory Group as exclusive agent for Ownership is pleased to offer for sale The Baltic Hotel, a modern boutique property located at 489 Baltic Street in the heart of Brooklyn’s Boerum Hill. Built in 2021, this 33-room independent hotel sits on a 9,137 SF lot and is situated in an Opportunity Zone, providing tax advantages to investors. The property benefits from its proximity to major Brooklyn attractions and convenient access to Manhattan, making it an ideal choice for both leisure and business travelers.

The hotel has proven to be a strong performer with a 20.2% growth from 2023, projected to generate $1,753,505 in 2024. The submarket’s consistent 83% occupancy rate, paired with increasing ADR and RevPAR, reflects robust demand. The Baltic Hotel provides additional revenue streams from a variety of value-add opportunities, further boosting financial performance.

Key demand generators include Barclays Center, major corporate offices in Downtown Brooklyn, and nearby universities such as NYU Tandon and Pratt Institute. The Gowanus Rezoning will bring 8,500 new housing units and commercial spaces, enhancing future demand.

The hotel offers significant value-add opportunities, including the potential for a 5,000 SF rooftop bar with views of the Manhattan skyline and a 2,716 SF backyard event space/beer garden, offering an attractive venue for events and outdoor gatherings.

With the NYC Special Permitting Law limiting new hotel supply and strong market demand, The Baltic Hotel is positioned to remain a high-performing asset in a prime location.