Long Island City Holiday Inn is on the market

Hotel at 39-05 29th Street could go for more than $40M

TRD New York /
Jun.June 08, 2018 08:04 AM

Holiday Inn Manhattan View (Credit: PropertyShark)

UPDATED, 3:10 p.m., June 8: Holiday Inn Manhattan View, located at 39-05 29th Street in Long Island City, has hit the market.

Queens Plaza North LLC put the 16-story, 136-key hotel’s leasehold interest up for sale, according to the Commercial Observer. There are 96 years remaining on the lease, and the ground owner is U.S. Realty Advisors.

The 63,839-square-foot hotel was built in 2008 and includes the Juquila Bar & Lounge, as well as a fitness center and meeting space. Daniel Peek and KC Patel of HFF are listing the property.

U.S. Realty Advisors bought the property in 2014 for $22.4 million, and it could fetch between $34 and $40.8 million on the market, one source told the publication.

The 50-story, 492-key Holiday Inn in the Financial District is on the market as well. It is the tallest Holiday Inn in the world, and developer Jubao Xie hopes to get more than $300 million for it.

An analysis by The Real Deal found that Long Island City was the most popular outer borough neighborhood for hotels by a long shot, with developers planning 45 new hotels in the area since 2010. [CO] – Eddie Small

Correction: Due to an error in the source material, this post originally misstated the company that had put the hotel’s leasehold on the market.


Related Articles

arrow_forward_ios
An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

30 West 31st Street and 52 West 36th Street (Credit: Google Maps)

South Korean firm snaps up two Midtown hotels for $137M

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

arrow_forward_ios