TCX planning 15-story hotel project in Jamaica
Great Neck-based firm's 72-key development the latest in Queens' hotel boom
Great Neck-based real estate firm TCX Development is set to contribute to the Queens hotel boom with plans for a new 15-story project in the borough’s Jamaica area.
TCX is looking to erect a 72-key hotel spanning 35,000 square feet at 92-18 150th Street, between Archer and Jamaica avenues. The project will include a 2,000-square-foot rooftop bar and a 1,500-square-foot restaurant, according to TCX partner Joshua Asherian.
While permit applications have yet to be filed with the city’s Department of Buildings, rooms at the hotel will average 250 square feet each, Asherian told the Commercial Observer.
ARC Architecture + Design Studio is designing the brick-and-metal project, while the hotel’s brand has yet to be determined, Asherian said.
TCX[TRData], which has developed several existing residential buildings in Jamaica, acquired the site – which previously held a one-story commercial building that has since been demolished — for $1.7 million last August, according to city property records.
The Jamiaca neighborhood has attracted several new hotel developments in the last year due to the area’s proximity to John F. Kennedy International Airport and transit lines like the Long Island Rail Road.
But Queens at large has also experienced a hotel boom in that time, with dozens of new projects in the pipeline and neighborhoods like Long Island City also seeing an influx of planned hotel developments.
The Real Deal reported this week that the city-wide hotel boom appears to be at the end of its cycle. [CO] – Rey Mashayekhi