Long Island City Holiday Inn is on the market

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

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
Mack Real Estate CEO Richard Mack and one of his new hotels at 51 Nassau Street. (Getty, ING)
Mack Real Estate takes over 7 distressed Manhattan hotels
Mack Real Estate takes over 7 distressed Manhattan hotels
1440 Broadway and CIM Group’s Shaul Kuba (Google Maps, Getty)
CIM closes on $400M refi for 1440 Broadway
CIM closes on $400M refi for 1440 Broadway
Theaters in some cities are opening with restrictions. (Getty, Photo Illustration by Alison Bushor for The Real Deal)
Coming attraction: Movie theaters reopen in New York, San Fran
Coming attraction: Movie theaters reopen in New York, San Fran
Innovo Property Group's Andrew Chung with 23-30 Borden Avenue in Long Island City (Google Maps)
Innovo lands $155M construction loan for LIC warehouse
Innovo lands $155M construction loan for LIC warehouse
Restaurants and bars accounted for a majority of the gains in February (iStock)
Leisure, hospitality big winners in February job gains
Leisure, hospitality big winners in February job gains
The company currently operates 761 stores, and intends to open 100 new stores this fiscal year. (iStock)
Retailer Burlington plans to double store count
Retailer Burlington plans to double store count
(Getty, Photo Illustration by The Real Deal)
Retail had its reckoning. Will subleases flood the market?
Retail had its reckoning. Will subleases flood the market?
Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty)
Ascena restructuring approved post-bankruptcy
Ascena restructuring approved post-bankruptcy
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...