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Courtyard New York Queens/Fresh Meadows 183-15 Horace Harding Expy 123 Room Hotel Fresh Meadows, NY 11365 $39,880,000 ($324,228/Room) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-minute drive from JFK Airport
- 6 Story, Interior Corridor
- 10 minutes from LaGuardia Airport
- Zoned R3-1/C1-2
EXECUTIVE SUMMARY
Luxury Hotels for Sale in Prime Fresh Meadows Location | 2 Hotels with 219 Boutique Rooms |
Hotel Introduction:
This premium hotel portfolio, situated in the Fresh Meadows Auburndale neighborhood of New York, consists of two
modern buildings (183-15 and 183-31 Horace Harding Expy. With an annual turnover of $13 million and a
consistent growth trend, it boasts significant development potential. Both six-story buildings were constructed in 2018and are Marriott-branded properties. Covering a total land area of 44,919 square feet and a total building area of 99,
403 square feet, they offer 219 boutique rooms in total (124 at Courtyard and 95 at Fairfield), including various room
types such as King, Queen, Double rooms, and luxury suites.
The property is located in the top-rated School District 26 and holds H3 limited-service hotel ownership (affiliated with
an international chain brand), zoned R3-1/C1-2, with a comprehensive management system in place. Thanks to its prime
location, stable revenue performance, and professional brand operation, it is a highly valuable hotel asset for
investment.
Address: 181-31 & 183-15 Horace Harding Expy, Fresh Meadows, NY 11365
Investment Highlights
—219 Non-smoking Guestrooms
-- annual turnover of $13 million
--high occupancy 80.3%
--open on 2018th
--non-union hotel
Hotel Introduction:
This premium hotel portfolio, situated in the Fresh Meadows Auburndale neighborhood of New York, consists of two
modern buildings (183-15 and 183-31 Horace Harding Expy. With an annual turnover of $13 million and a
consistent growth trend, it boasts significant development potential. Both six-story buildings were constructed in 2018and are Marriott-branded properties. Covering a total land area of 44,919 square feet and a total building area of 99,
403 square feet, they offer 219 boutique rooms in total (124 at Courtyard and 95 at Fairfield), including various room
types such as King, Queen, Double rooms, and luxury suites.
The property is located in the top-rated School District 26 and holds H3 limited-service hotel ownership (affiliated with
an international chain brand), zoned R3-1/C1-2, with a comprehensive management system in place. Thanks to its prime
location, stable revenue performance, and professional brand operation, it is a highly valuable hotel asset for
investment.
Address: 181-31 & 183-15 Horace Harding Expy, Fresh Meadows, NY 11365
Investment Highlights
—219 Non-smoking Guestrooms
-- annual turnover of $13 million
--high occupancy 80.3%
--open on 2018th
--non-union hotel
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $39,880,000 | Lot Size | 0.66 AC |
| Price Per Room | $324,228 | Building Size | 57,217 SF |
| Sale Type | Investment | No. Rooms | 123 |
| Cap Rate | 10% | No. Stories | 6 |
| Sale Condition | 1031 Exchange | Year Built | 2018 |
| Property Type | Hospitality | Parking Ratio | 6.99/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | A | ||
| Zoning | R 3-2/ C 2-2 - Commercial district predominantly residential in character | ||
| Price | $39,880,000 |
| Price Per Room | $324,228 |
| Sale Type | Investment |
| Cap Rate | 10% |
| Sale Condition | 1031 Exchange |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | A |
| Lot Size | 0.66 AC |
| Building Size | 57,217 SF |
| No. Rooms | 123 |
| No. Stories | 6 |
| Year Built | 2018 |
| Parking Ratio | 6.99/1,000 SF |
| Corridor | Interior |
| Zoning | R 3-2/ C 2-2 - Commercial district predominantly residential in character |
AMENITIES
- Business Center
- Fitness Center
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 6 | $274.00 | - |
| Guest Room | 117 | $259.00 | - |
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 07067-0063 | Improvements Assessment | $3,477,240 |
| Land Assessment | $1,498,950 | Total Assessment | $4,976,190 |
PROPERTY TAXES
Parcel Number
07067-0063
Land Assessment
$1,498,950
Improvements Assessment
$3,477,240
Total Assessment
$4,976,190
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Courtyard New York Queens/Fresh Meadows | 183-15 Horace Harding Expy
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