OFFERING MEMORANDUM 25 GENESEE STREET GREENE, NY 13778 HOTEL FOR SALE 26,000 SF
Table of Contents Section I Confidentiality and Conditions Offering Summary Section II The Property Property Description Aerial Map Assessments & Taxes Zoning Property Photos Section III Location Information About the Area Location Map Location Aerial Demographics
SECTION I Confidentiality and Conditions Offering Summary
Confidentiality and Conditions SECTION I This Brochure was prepared by Pyramid Brokerage Company and has been reviewed by the owner of the Property ( Owner ). It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information, which a prospective purchaser might desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition, and other factors beyond control, and therefore, are subject to material change or variation. In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete, nor necessarily accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Brochure is subject to prior placement, error, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advise as to the value of the Property by Pyramid Brokerage Company or the Owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Nothing contained in this Brochure shall constitute a representation or warranty of Pyramid Brokerage Company or the Owner. Owner and Pyramid Brokerage Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the Property and/or terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Owner and any conditions to Owner s obligations hereunder have been satisfied or waived. Pyramid Brokerage Company is not authorized to make any representations or agreement on behalf of Owner. This Brochure is the Property of Pyramid Brokerage Company and may be used only by parties approved by Pyramid Brokerage Company. The Property is privately offered and by accepting this Brochure, the party in possession hereof agrees (i) to return it to Pyramid Brokerage Company immediately upon request of Pyramid Brokerage Company or Owner and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Pyramid Brokerage Company and Owner. The terms and conditions set forth above apply to this Brochure in its entirety. For additional information regarding the proposed transaction with respect to the Property, please contact the following: SCOTT WARREN Real Estate Salesperson (607) 621-0439 swarren@pyramidbrokerage.com
Offering Summary SECTION I THE OFFERING Pyramid Brokerage Company has been retained to exclusively represent 25 GENESEE STREET LLC ( Owner) in the sale of existing building located at 25 Genesee Street Greene, NY 13778 (the Property ). The property is A Historic Hotel in the Village of Greene, NY. A 20 Room Hotel with a full service Restaurant, bar servicing the Restaurant and a separate tap room which could be used as a separate nightclub, lounge or a meeting room. The property has been beautifully renovated from top to bottom. All materials used in the renovation are of top quality and it is visible when you walk into the Hotel. Sitting approximately ½ Mile from one of the areas largest employers, Raymond Corporation, and being the only Hotel in Green creates a truly unique business opportunity. The new owner will be able to open for business, have a ready and anxious market and will benefit from having 3 separate profit centers; The Hotel, The Restaurant and the Lounge. Redevelopment opportunities are also a very viable use as the set up of this structure would make a turn key assisted living complex. OFFERING PROCEDURES The Owner will consider all qualified offers on the property. Offers and letters of interest or intent are to be submitted through Pyramid Brokerage Company.
SECTION II Property Description Tax Map Assessments & Taxes Zoning Property Photos
Property Description SECTION II Address: 25 Genesee Street Greene, NY Tax ID: 236.200-0002-026.00000 Site Size: Gross Building Area: Breakdown: Sprinkler: Frontage: 26,000 Square Ft. 26,000 Square Ft. 20 Room Hotel, Lobby, Restaurant, Bar to service the Restaurant and Lounge. Yes, fully sprinklered and certified. Approximately 100 feet. Utilities: Year Built: 1913 Foundation: Exterior Walls: Interior Walls: Public Water and Sewer. Municipal Electric. Cement Block/Brick Sheetrock Roof: Rubber, installed 2013 Windows & Doors: Original wood frame. HVAC: Parking: Central Air. New Mitsubishi system with baseboard electric as backup. Municipal Electric saves money on heat. Street
Aerial Map SECTION II
Assessment and Taxes SECTION II According to the tax records of the Village of Greene, the current assessment for the subject property is as follows: TAX ID# LAND ASSESSMENT FULL MARKET VALUE 232.200-0002- 026.00000 TOTAL ASSESSMENT $25,000 $496,100 TAX ID # SCHOOL TAX TOWN/COUNTY TAX TOTAL TAXES 232.200-0002- 026.00000 $7,605 $9,107 $16,712
Zoning SECTION II According to the Code Enforcement Office for the City/Town/Village of Greene, the subject property is zoned Commercial - Hotel. Uses permitted within this district include: Hotel Restaurant Lounge Etc.
Property Photos SECTION II
Property Photos SECTION II
Property Photos SECTION II
Property Photos SECTION II
Property Photos SECTION II
SECTION III About the Area Location Map Location Aerial Demographics
About The Area SECTION III Greene NY is in the Southern Tier of New York. Nestled in the scenic Appalachian mountain chain along the Chenango river. Right on State route 12 and on the new refurbished train line. Greene is the largest municipality in Chenango County, NY which has a population of approximately 7,000 residents. Home to one of the areas largest and fast growing employers Raymond Corporation. Raymond sits approximately ½ Mile from the Sherwood Hotel and in the past has shown a great deal of patronage. Raymond has sales people and sub-contractors visiting on a consistent basis and now most of these visitors travel to Binghamton, NY for lodging and meals. The Sherwood would certainly have a solid and loyal client in Raymond Corporation. This is an excerpt from Press Connects August 2014. After a rough patch in 2009, The Raymond Corp. in Greene has fully recovered from the Recession. In the last five years, Raymond has doubled employment and tripled production. The growth and expansion is real and Raymond would like to have a high quality Hotel and Restaurant available to service their business associates lodging, meeting and entertainment needs.
Location Map SECTION III
Location Aerial SECTION III
Demographics SECTION III Demographics 3 Miles 5 Miles Population 3,557 5,590 Households 1,553 2,317 Median HHI $59,819 $57,711
www.pyramidbrokerage.com PREPARED BY: SCOTT WARREN SCOTT WARREN Real Estate Salesperson License No. 10401296678 84 Court Street; Suite 300 Binghamton, NY 13901 swarren@pyramidbrokerage.com