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3860 13th St
Long Island City, NY 11101
Giorgio Hotel · Hospitality Property For Sale
·
47,840 SF
Investment Highlights
- 25-Year ICAP Tax Abatement
- $10.1 MM of assumable debt in place, due Jan 2023 at 5.68%.
- Reflagging can lead to approx 20% increase in ADR and RevPar
- Ideal opportunity to reposition this hotel, presently operating with a component of student housing.
- This property will be approved by IHG, Hilton, Hyatt, or Choice for multiple flag options, Opportunity to instantly increase value through a new flag
- PIP for reflagging can be 100% financed
Property Facts
| Property Type | Hospitality | Building Size | 47,840 SF |
| Property Subtype | Hotel | No. Stories | 10 |
| Building Class | B | Year Built | 2017 |
| Lot Size | 0.29 AC | Corridor | Interior |
| Zoning | M1-3 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 47,840 SF |
| No. Stories | 10 |
| Year Built | 2017 |
| Corridor | Interior |
| Zoning | M1-3 |
Amenities
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Property Taxes
| Parcel Number | 00472-0679 | Improvements Assessment | $2,042,550 |
| Land Assessment | $337,500 | Total Assessment | $2,380,050 |
Property Taxes
Parcel Number
00472-0679
Land Assessment
$337,500
Improvements Assessment
$2,042,550
Total Assessment
$2,380,050
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