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39-05 29th St
Long Island City, NY 11101
Former Holiday Inn L.I. City - Manhattan View · Hospitality Property For Sale
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63,839 SF
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.
Property Facts
| Property Type | Hospitality | No. Stories | 17 |
| Property Subtype | Hotel | Year Built | 2007 |
| Building Class | B | Tenancy | Single |
| Lot Size | 0.29 AC | Parking Ratio | 0.27/1,000 SF |
| Building Size | 63,839 SF | Corridor | Interior |
| Zoning | M1-3; R5D - Light industrial with offices, hotels, and most retail uses permitted, Medium density district with a height limit of 40 feet | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 63,839 SF |
| No. Stories | 17 |
| Year Built | 2007 |
| Tenancy | Single |
| Parking Ratio | 0.27/1,000 SF |
| Corridor | Interior |
| 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
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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