1021 & 1025 Beach 21st Street
Far Rockaway, New York
1021 Beach 21st Street, Far Rockaway, New York 11691
Neighborhood: Far Rockaway
Asset Type: Hotel
# of Buildings: 2
Square Feet: 53868
Building Class: MISC Hotel H
Best Western & Wingate by Wyndham Properties
Besen Partners Hotel Advisory Group, as exclusive agent for ownership, is pleased to offer for sale two (2) newly constructed limited service hotels in
the Far Rockaway section of Queens. The two semi-attached properties are comprised of 146 rooms and are located just 6 miles from JFK International
Airport. The property is situated in the heart area recently selected to be a $139 million project to renew and revitalize downtown Far Rockaway streets and
infrastructure, and are moments away from the highly anticipated public spaces that are being redeveloped.
The hotels are presently operating under two management contracts with Best Western and Wingate by Wyndham. The terms of the agreements have an
agreed upon end date and offer an exit option at a reasonable cost.
Ownership completed construction in 2018 and has recently opened both hotels for occupancy in September 2019. Within four months, the hotels are
already showing occupancies of well over 50% with an average daily rate (ADR) above $110. Additionally, there is ample free parking, a business lounge,
fitness center, free Wi-Fi and complimentary buffet breakfast.
This offering represents a unique opportunity to acquire two brand new hospitality assets with a very limited competitive set in a prime Queens location.