facebook
Traded Co logo
Submit

Aries Living Acquires Apple Tree Inn Hotel In Lenox, MA For $2.7M

Property Image
SOLD
$2,700,000

Massachusetts

See Similar Deals
Hotel39,000 SF
Sold 10/31/2021
the dealplayerscompscontact
Property Image
SOLD

Aries Living Acquires Apple Tree Inn Hotel In Lenox, MA For $2.7M

10 Richmond Mountain Road, Lenox, MA 01240

See Similar Deals
Hotel39,000 SF
Sold 10/31/2021
Contact now

Summary

MASSACHUSETTS
Asset Type:Hotel
Price Per Square Foot:$69
Total Square Footage:39,000 SF
Transaction Type:Sale

The Apple Tree Inn, a renovated landmark hotel located at 10 Richmond Mountain Rd in Lenox, MA, has been sold in a recent transaction. The hotel, situated across 22 acres in the Lenox district of the Berkshires, offers thirty-four Victorian-inspired private rooms. With its close proximity to both New York City and Boston, the inn attracts autonomous travelers looking for a retreat surrounded by natural beauty. The Ostrich Room, located within the inn, hosts live musical performances five nights a week, adding to the cultural experience. The sale of the Apple Tree Inn was facilitated by broker James Nugent.

Summary of transaction details

  • Property Type: Hotel
  • Address: 10 Richmond Mountain Rd, Lenox, MA
  • Market: Lenox, MA
  • Keys: 34
  • Price Per Key: $79,412
  • Sale Price: $2,700,000
  • Square Footage: 39,000
  • Price Per Square Foot: $69

Aries Living, a hospitality company specializing in personalized, service-oriented accommodations, has acquired the Apple Tree Inn as part of its expansion plans. The company, known for its high-tech, short-term stay model, is venturing into the unique hospitality experience provided by the inn. This acquisition adds to Aries Living's portfolio, which already includes three boutique-style hotels in Miami: Villa Paradiso, Ithaca of South Beach, and Treehouse. Founded in 2015, Aries Living is focused on creating a collection of properties that cater to creatively-minded and environmentally-conscious individuals seeking style, comfort, and inspiration in their getaway destinations.

Players

1 deal$2.7M volume
BROKER

Details

SOLD
IMAGE: Max Khaghan DATE: 10/31/2021 ADDRESS: 10 Richmond Mountain Rd MARKET: Lenox, MA ASSET TYPE: Hotel ~ KEYS: 34 ~ PPK: $79,412 BUYER: Aries Living (@AriesLiving) (https://www.arieslivinghospitality.com/) - Max Khaghan SELLER: The Apple Tree Inn (@AppleTreeInn) - Sharon A. Walker BROKER: James Nugent ASKING PRICE: $3,500,000 SALE PRICE: $2,700,000 SF: 39,000 ~ PPSF: $69 NOTE: Set across 22-sprawling acres in the Lenox district of the Berkshires, Apple Tree Inn is a renovated landmark hotel that welcomes autonomous travelers to experience music, art, and culture amid the awe-inspiring outdoors with a less than three-hour drive from both New York City and Boston. The inn is renowned for its thirty-four Victorian-inspired private rooms complemented by a selection of live musical performers five nights a week in a bar-setting at The Ostrich Room. This contemporary New England Inn is designed for creative, environmentally conscious, and artistically minded individuals seeking inspiration in a getaway destination without compromising on comfort and style. Aries Living is taking a departure from our typical high-tech, short term stay business model, by stepping into a personalized, service-oriented lifestyle space with this new property. With the acquisition of the Apple Tree Inn, Aries Living now operates four hotels. Founded in 2015, Aries Living operates three apartment boutique-style hotels in Miami — Villa Paradiso, Ithaca of South Beach and Treehouse - and is expanding its overall brand collection with additional properties in the pipeline.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53