Can the Blue Moon Hotel make it to a decade on the market without selling? We're about to start taking bets. Because even though an appraisal two years ago put the hotel's likely value at around $10 million, the perpetually-for-sale property is back on the market with a new price of, uh, $19 million. (It was asking $16.5 million last fall, and though the price has fluctuated over the past eight years, it has never dipped below that.)
Instead of focusing on the building's development potential, as previous listings have done, this new pitch is all about the hotel itself, from the complimentary continental breakfast with Kossar's bagels and Gertel's bakery pastries to the "guest accommodations chock-full of historic details" to the "hydromassage baths" and the rooms named after 1930s and 1940s celebrities. Which might make people want to take a room for the night?but not necessarily to buy the place.
· 100 Orchard Street [StreetEasy]
· Blue Moon Hotel coverage [Curbed]