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Former Holiday Inn L.I. City - Manhattan View 39-05 29th St 136 Room Hotel Long Island City, NY 11101 For Sale
INVESTMENT HIGHLIGHTS
- Ownership has invested nearly $5M in the last year to bring the property to working order, reducing immediate capital investment needs for a buyer.
- The Industrial & Commercial Abatement Program (ICAP) offers substantial savings, significantly reducing property taxes over the holding period.
- Hilton brand representatives have expressed strong interest in an affiliation with possibilities of either Hampton by Hilton or Tru by Hilton brand.
- Current ownership plans to reopen the hotel as an independent, non-branded property in 2025, having already passed key inspections.
- As a non-unionized hotel, greater operational flexibility and potential cost savings are notable opportunities.
- Situated minutes from Midtown Manhattan, the property is near one of the world’s most robust corporate and tourism markets, driving consistent demand.
EXECUTIVE SUMMARY
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to the ownership, is pleased to present the opportunity to acquire the former, 136-key Holiday Inn Long Island City – Manhattan View.
The non-unionized hotel (unencumbered by a brand or management agreement) has been closed since 2020; however, an investment of $5 million has already been spent to bring the property back to working order.
An investor would have the flexibility to reposition it as a newly renovated, premium-branded hotel asset and the ability to capitalize on the significant upside potential, optimizing operational efficiencies in a historically strong-performing submarket to drive both revenue and profitability.
Ownership is motivated to sell the property and has agreed to reduce the price. Please email jwilliams@hvs.com for more details.
The non-unionized hotel (unencumbered by a brand or management agreement) has been closed since 2020; however, an investment of $5 million has already been spent to bring the property back to working order.
An investor would have the flexibility to reposition it as a newly renovated, premium-branded hotel asset and the ability to capitalize on the significant upside potential, optimizing operational efficiencies in a historically strong-performing submarket to drive both revenue and profitability.
Ownership is motivated to sell the property and has agreed to reduce the price. Please email jwilliams@hvs.com for more details.
PROPERTY FACTS
| Sale Type | Investment | No. Stories | 17 |
| Property Type | Hospitality | Year Built | 2007 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | B | Parking Ratio | 0.27/1,000 SF |
| Lot Size | 0.29 AC | Corridor | Interior |
| Building Size | 63,839 SF | Opportunity Zone |
Yes
|
| No. Rooms | 136 | ||
| Zoning | M1-3; R5D - Light industrial with offices, hotels, and most retail uses permitted, Medium density district with a height limit of 40 feet | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 63,839 SF |
| No. Rooms | 136 |
| No. Stories | 17 |
| Year Built | 2007 |
| Tenancy | Single |
| Parking Ratio | 0.27/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | M1-3; R5D - Light industrial with offices, hotels, and most retail uses permitted, Medium density district with a height limit of 40 feet |
AMENITIES
- Business Center
- Fitness Center
- Restaurant
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 5 | $243.00 | - |
| Guest Room | 131 | $138.00 | - |
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 00399-0017 | Improvements Assessment | $7,483,500 |
| Land Assessment | $422,100 | Total Assessment | $7,905,600 |
PROPERTY TAXES
Parcel Number
00399-0017
Land Assessment
$422,100
Improvements Assessment
$7,483,500
Total Assessment
$7,905,600
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Former Holiday Inn L.I. City - Manhattan View | 39-05 29th St
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