1021 & 1025 Beach 21st Street

Far Rockaway, New York

For Sale

Together or separate

OVERVIEW

LOCATION:
1021 Beach 21st Sreet, Far Rockaway, New York 11691

Neighborhood: Far Rockaway

Asset Type: Hotel

Lot Dimensions: 180 x 140

Lot: 81

Block: 15705

# of Buildings: 2

Building Class: MISC Hotel H

AVL. Air Rights: yes

 

Description

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 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.

 

Nearby Transportation

Just steps from the Far Rockaway-Mott Ave A Train Stop and a quick 14 minute drive to the JFK International Air Port