Wingate by Wyndham Hotel | Far Rockaway - 88 Keys

1021 Beach 21st Street, Queens, NY

$20,000,000

Price

7.28%

Cap Rate

22,250 sqft

Building Size

Overview
Cap Rate
7.28%
Building Size
22,250 sqft
Lot Area
12,600 sqft
Keys
88
Star Rating
4
ADR
$110
Year Built
2019
Management
Encumbered
Floors
5
Parking Spots
20
Construction Status
Complete
Number of Elevators
2
Investment Strategy
Core Plus
Description

CAN BE DELIVERED UNENCUMBERED OF FLAG

This Wingate Hotel is an excellent investment opportunity. The newly constructed hotel boasts high end finishes, ADA accessibility, a fitness center, a fully appointed breakfast area and lounge, as well as laundry facilities.
There are 88 rooms, very convenient parking and is moments from the A train, making it very accessible to the city. It is also 6 miles from JFK and is serviced by the airport shuttle.
It is adjacent to a Best Western that can be acquired simultaneously or separately.

Highlights
  • Industrial and Commercial Abatement Program (ICAP) – 25 Year Real Estate Tax Abatement
  • New Construction
  • Direct access to NYC: 2 blocks from the “A” Far Rockaway-Mott Avenue subway station
Documents
Title
1021_Beach_21st_Street_HOTEL-OM-Teaser-Compressed.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery