Goblin, what have you done?
Spider-Man webs himself between two flag poles and uses them to launch himself towards the bridge in order to save everyone in time.
The film makes it seem like this Hotel is in the Lennox Hill area, just off the bridge, based on the pan from the explosions on the bridge to Spider-Man on top of the roof. But being called the Hotel Central, it seems like it would be a Hotel that would be several blocks West towards Central Park. Either way, according to Cinefex 90 it was a fully practical miniature based on the Dakota building (on the far West side of the Park) at 1 W 72nd St.
The location is unknown, as this is not a real location (see above).