The Princeton Club of New York

Manhattan trophy at 27% discount to $61.6M appraisal — 81,860 SF limestone & brick building with 52-room hotel, cogen plant, and protected Midtown views at 15-21 West 43rd Street.

A single-asset Manhattan trophy on one of the highest-foot-traffic blocks in the world, mid-renovation-cycle, with an operating 52-room boutique hotel inside and a cogeneration plant that delivers institutional NOI before any value-add. Repositioning options include continued private-club + hotel operation, full conversion to luxury boutique hotel, members-club / branded residence hybrid (Aman / Soho House / Casa Cipriani comparable), or partial-floor luxury condominium with retained club amenities. Protected light, air and views secured by air-rights agreements with adjacent landmarked buildings.

• Asking price $45M — 27% discount to certified $61.6M appraisal; $549/SF above-grade
• 81,860 SF total (63,860 SF above grade), 10 stories + 2 lower levels, built 1962, renovated 2008–2010
• 52-room boutique hotel (49 guest rooms + 3 suites) across floors 5–9, operating independently of club membership
• $11M cogeneration plant reduces annual utility bill from ~$1.2M to ~$700K — ~$500K/yr structural saving
• 4,471 SF unused air rights remaining after 2007 transfer to 520 Fifth Avenue
• Prime Midtown location at 15-21 W 43rd St — 2 min to Bryant Park subway, 5 min to Grand Central, 7 min to Times Square
• Protected views/light corridors secured by landmarked adjacent buildings (Century Association, Hotel Mansfield, General Society)
• Real estate taxes of $942,970/yr; sub-cellar squash courts and 15,000 SF lower-level space

Hospitality operator, private club operator, luxury branded-residence developer, or value-add real estate investor seeking a Midtown Manhattan trophy asset with multiple repositioning paths.