UPDATED, 4:30 p.m., Aug. 28: Able Management Group closed Monday on its acquisition of 93-47 Sutphin Boulevard in the Queens neighborhood of Jamaica, and subsequently filed plans Friday for its new 27-story hotel development on the site.
The Long Island-based developer, led by CEO Viral Patel, closed on its purchase of the property from the Greater Jamaica Development Corp. for an undisclosed amount, according to a source with knowledge of the deal – allowing the developer to push forward with a planned Hilton Garden Inn on the site.
The development is slated to hold 225 rooms across 125,000 square feet, with amenities including a pool, fitness room and lobby restaurant and bar. The hotel’s rooftop will also house a bar and terrace.
Plans overcame a hurdle earlier this year after the Greater Jamaica Development Corp. settled a lawsuit with Robin Eshaghpour, who claimed to hold a 99-year lease on the site, according to the New York Daily News. The developers also had to reach a deal with the Metropolitan Transportation Authority, which owned a third of the property.
The project, scheduled to break ground early next year, is among a flurry of big-ticket developments coming to Jamaica — with BRP Companies planning two mixed-use buildings housing 580 apartments and developer Pride Hospitality Group building an 18-story, 283-key hotel nearby.
Flatiron District-based GF55 Partners is designing the Hilton Garden Inn development, which is expected to cost around $54 million.
Able Management could not be reached for comment. The Greater Jamaica Development Corp. did not respond to requests for comment.