CINEMATIC EXPERIENCE...Perched on the 43rd Floor of The Dominick, the only independent Five-Diamond property in NYC, this PENTHOUSE two (2) bedroom, two-and-a-half (2.5) bath residence offers one of the most unique ownership investment opportunities in New York. With a cap rate approaching 2.8%+ for 2019, and approximately $7K/month in monthly revenue, and a year-over-year increase of net income of over 300%+ from 2018 this is the perfect time to invest in this apartment. For purchasers, this rare condo-hotel model, offers the ultimate in flexibility as the unit is managed and rented on a nightly basis generating income while owners are away, and owners can stay free of charge for up to four (4) months out of the year.
Penthouse 4303 has the best layout in the building occupying the full Western corner of the building and a 270-degree view experience that feels like you are floating above SoHo. The split bedroom floorplan offers two gracious Master Bedrooms each furnished with luxurious king-sized beds with elegant leather headboards. Both bedrooms feature five (5) fixture En Suite "spa-like" Master bathrooms wrapped in Italian marble, custom dual vanities, glass-enclosed showers and beautiful soaking tubs with extravagant views.
The living room is magnificent and voluminous with 11' ceilings and floor-to-ceiling windows with direct Hudson River views and iconic Downtown and Midtown views from morning to evening. Contemporary furnishings by Fendi Casa in a sophisticated palette of bronze and ivory, with accent pieces in hand-finished suede and leather exude elegance. The open kitchenette is equipped with Sub-Zero refrigerator, wine cooler, full-service breakfast bar, custom cabinetry with Macassar ebony doors, and island peninsula with stools for enjoying your morning coffee and entertaining guests. Additionally, the unit features state-of-the-art Control 4 technology which allows one-touch controls for blinds, temperature and lighting, and also included in the entertainment package is a 42-inch HD flat-screen television, DVD/CD player and sound system, and high-speed internet connectivity.
The Dominick allows its owners to stay in the unit for up to 120 days a year while renting it through the hotel program while not in use by the owner. Owners can stay up to 29 nights in any 36-day period while enjoying the world-class amenities and services of the hotel. When owners are not using the unit, it automatically goes into the hotel algorithmic system to be rented out nightly, weekly or even monthly by visitors to New York. The unit comes with a sizable locked and secured owner's closet for all your personal belongings during your visits. This seamless ownership program is run completely by the hotel and does not require any involvement from the owner. As an owner, you'll get a monthly breakdown of the unit's financial activity which will automatically deduct any costs associated with the ownership through the revenue generated resulting in a positive net income which has averaged approximately $7K/month in 2019.
The Dominick hotel is a cut above with exceptional amenities including world-class dining, 11,000sf bi-level Babor Signature Spa with Turkish hammam and indoor/outdoor relaxation lounges, state-of-the-art fitness center with MIRROR Workouts, Peloton bikes and TechnoGym, outdoor pool lounge, 24 hour concierge and signature personalized services. Designed by the Rockwell Group the lobby features 22' ceilings with intimate alcove seating areas, The Library, a mezzanine seating area over-looking the lobby, conference and business center, and a private private top floor venue for events. A landscaped Urban Plaza adjacent to the hotel extends from Spring Street to Dominick Street, with decorative lighting and spacious seating areas.
Located in SoHo's Hudson Square neighborhood which is the future home to companies such as Google and Disney this thriving enclave has numerous dining and entertainment options, not to mention some of the best shopping in NYC on the streets of SoHo. Call or e-mail today for more information on this unique offering.
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Listing ID 3968444
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Listing ID 3968304
Courtesy of: Douglas Elliman 936 Broadway
Office Phone: 212.598.3199
Listing Agent: Sang (Hunie) Kwon
Updated: 20th January, 2020 9:04 AM.
246 Spring St New York, NY