"Still $20 million overpriced," one commenter opined when the Lower East Side's Blue Moon Hotel last crossed our radar with a PriceChop to $29 million. Other commenters agreed, and after nearly a year with no sale, the hotel's owner has heard their thoughts?or simply become discouraged and changed his mind independently. The property is now on the market for $19.5 million, according to a press release. The 22-room hotel's pricing roller coaster has taken it from $20 million to $35 million and back down to that most recent $29 million ask.
This time, at least, the listing language has been updated from the 2005 wording. The brokerbabble describes 100 Orchard as a "unique, one-of-a-kind property which could be reconfigured for a wide variety of alternative uses given its location across from the famous Tenement Museum in Manhattan's burgeoning Lower East Side, and its creatively decorated rooms named after music/literary celebrities from the 1920s and 1930s." We're not really sure what that has to do with anything, but it's nice to see a change in tactics here. Happy seventh year on the market, Blue Moon.
· Blue Moon Hotel coverage [Curbed]