Description

Cushman & Wakefield is proud to exclusively offer 231 Grand Street, a mixed-use hotel positioned at the southwest corner of Grand Street and Bowery, right at the crossroads of NoLIta and the Lower East Side—two of Manhattan’s most vibrant and rapidly transforming neighborhoods.The building spans roughly 48,911 square feet and includes 102 hotel rooms, along with three ground-level retail spaces currently leased to Chase Bank and Akiba House. The hotel itself is under contract with the City of New York, which is using it as a shelter, generating a reliable annual gross income of approximately $8.6 million. Additionally, the property offers significant potential for a value-add or owner-user strategy, with the option to redevelop the hotel into an upscale hospitality experience.