Besen Partners Marketing Two Hotels for Sale in Queens, NY
Besen Partners Hotel Advisory Group has been awarded the exclusive agency for the sale of two newly constructed limited-service hotels in Rockaway, NY: a Best Western and a Wingate by Wyndham. Completed in 2018 and opened for occupancy in September 2019, the two semi-attached assets encompass 53,858 sq. ft., with a total of 146 rooms.
The properties are close to JFK International Airport and directly accessible to public transportation. Asking price for both assets together is $33.9 million ($232,000 key) and there is a 25-year ICAP real estate tax abatement. The Far Rockaway Downtown District has also been slated for a $139 million mixed-use revitalization project that includes the redevelopment of infrastructure and public spaces.Read More