I recently came across a pretty awesome promotion from Conde Naste Traveler.

CN Traveler shares a “Deal of the Day: A Five-Star Hotel in NYC for Just $2“.

But of course there has got to be a catch. Regardless, I signed up for this offer and hope to win a $2 bargain priced NYC hotel stay!

The hotel offering $2 rooms is the Knickerbocker Hotel in NYC’s Times Square. While I’ve never heard of the property, CN Traveler mentions that it’s a historic hotel. In fact, it will be celebrating it’s 109th anniversary- the reason for the $2 room promo.

When the Knickerbocker Hotel opened on October 23, 1906 it charged $2 per night for a stay. To celebrate the upcoming anniversary, a limited amount of rooms will be available at the original opening price.

Just to show how great this deal is, CN Traveler mentions that weekend rooms at the Knickerbocker can go for a ridiculous $600 per night.

The Catch: (You knew there had to be one. Right?)

While the hotel has 330 rooms, only a limited amount will be available for the $2 price and for only one night! The special price will be good for the night of October 23, the hotel’s anniversary.

Limited Rooms: CN Traveler mentions a limited amount of rooms but while reading over the terms of the promo, I found out that only one room will be offered for $2. This was pretty disappointing to read. While the promo price is amazing, the odds of winning can’t be that great.

If you’d like a chance to win a $2 room at The Knickerbocker, you’ll need to register by tomorrow, October 16 at 11:59 pm ET.

Find out more and enter here.