Investing in New York City Hotels

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  • Architect · Cary, NC · Member since 2018 · 96 posts · 63 votes
    7y

    @Robert Carpenter,

    I've spent the past 10 years as an Architect designing and working with developers on NYC hotels.

    Feel free to reach out if you have specific questions.

    Best Regards,

    Alex Furini, RA

  • New York Metro · Member since 2018 · 31 posts · 4 votes
    7y

    Oh OK.  Thanks for volunteering your expertise.   When I have a little more knowledge on

    the subject I just might take up your generous offer. 

  • Real Estate Broker · NY · Member since 2018 · 30 posts · 3 votes
    6y

    @Robert Carpenter, have you gotten a chance to look more into hotels? 

  • Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
    6y

    @Robert Carpenter How did your experience with New York hotels go? 

  • New York Metro · Member since 2018 · 31 posts · 4 votes
    6y

     Schematically AirBnB seems to be exerting downward pressure on hotel rates - as are micro-hotels - the pod style tiny hotel rooms many of which are on a common  bath. At the same time co-living and co-working seem to be merging into something like the resuscitation of the old private club with elements of the old company town reappearing as well.   And one mustn't forget that serviced apartments and  individual hotel rooms now tend toward the same endpoint. 

    At any rate I worked up a design which seems to me to be the smallest possible footprint which can sill offer  private bath [a non-negotiable amenity in my book], micro kitchen, office, and king size bed.  [ In my younger days I stayed at a hotel in London with a shared bath - but at this stage of the game I think I'd sooner stay home. ]  In this way the place can work as either a serviced apartment or a hotel room. I tried hawking my ideas to a number of  boutique hotel developers and micro hotel operators  but  no takers so far :)  

    Of particular interest to me is a company call Industrious in the co-working space.  If I understand correctly their business model is based on a partnership / profit sharing arrangement as distinct from leasing and then subleasing as is the case with WeWork. I find this very appealing.  It sidesteps the conventional risks of both a purchase or a lease, saves time and energy, and puts all of  the focus on   offering the consumer better price, better design, or both. 

  • Rental Property Investor · San Francisco, CA · Member since 2016 · 118 posts · 90 votes
    6y

    @Robert Carpenter curious to see if you pursued this idea further? I think in highly dense cities like NYC, a model like this could work super well. There was an interesting BP podcast episode w/ someone who had a model renting our rooms in single family house's that included amenities and such and was highly profitable.

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