Uniondale Marriott sold by Starwood Capital Group

New York /
Nov.November 19, 2018 01:44 PM

Navika Capital Group, a real estate investment company, bought a 615-room Marriott hotel in Uniondale from Starwood Capital Group for an undisclosed sum, according to Newsday. Navika Capital, a subsidiary of Royal Blue Hospitality LLC, is headquartered nearby. The Nassau County Industrial Development Agency consented to the sale. In 2014, the IDA gave two decades of tax breaks so the hotel could undergo $25 million in renovations. Starwood Capital bought the Marriott for $66.2 million in 2014 from Charles Wang, a founder of Computer Associates International and former owner of the National Hockey League’s New York Islanders. Wang, who died in October, had to sell the hotel when he couldn’t make debt payments and lenders filed for foreclosure. [Newsday]


Related Articles

arrow_forward_ios
Photo Illustration of Urban Edge CEO Jeff Olson and Sunrise Mall in Massapequa, NY. (Getty, Urban Edge)
Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
Nassau Coliseum and Nick Mastroianni (Getty)
Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary
Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary
TRD’s favorites wines, spirits and non-alcoholic beverages. (Getty, Amazon,
These nine drinks will help you toast the new year
These nine drinks will help you toast the new year
Nassau County residents impacted financially by the pandemic will be eligible for rent relief (Getty)
Nassau County offers $6 million in rent relief
Nassau County offers $6 million in rent relief
Suburban condos get competitive
Suburban condos get competitive
Suburban condos get competitive
23 Ezekillis Hollow in Sag Harbor (Photos courtesy of Compass)
Year’s most expensive home in Sag Harbor sold for $15M
Year’s most expensive home in Sag Harbor sold for $15M
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)
Hotelier buys waterfront Boca Raton home for $6M
Hotelier buys waterfront Boca Raton home for $6M
Long Island is aiming to keep the business it grabbed from the city during the pandemic, and it now knows how. (iStock)
Long Island plots to keep its pandemic gains from NYC
Long Island plots to keep its pandemic gains from NYC
arrow_forward_ios

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

Loading...