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9-02 38th Ave
Long Island City, NY 11101
La Quinta Leased as a Halfway House · Hospitality Property For Sale
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44,168 SF
Investment Highlights
- Lease extension with Housing Works was executed. Term of the lease will commence on 7/1/25 and expire on 6/30/28. NOI will be $3.28M as of 7/2025.
- Access to and from the property is easy via subway, Long Island Railroad, and ferry services, offering multiple transportation options.
- Operating under the La Quinta brand, the franchise has a minimal role other than collecting a franchise fee and implementing any PIPs.
- 112-key hotel leased to Housing Works, a leading not-for-profit organization operating as a halfway house.
- Long Island City is a prime investment destination, renowned for its rapid development and unbeatable proximity to Manhattan.
Property Facts
| Sale Condition | Auction Sale | Building Size | 44,168 SF |
| Type of Ownership | Fee Simple | No. Stories | 12 |
| Property Type | Hospitality | Year Built | 2019 |
| Property Subtype | Hotel | Parking Ratio | 0.07/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 0.18 AC | Parcel Number | 00475-0030 |
| Zoning | M1-3 | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 44,168 SF |
| No. Stories | 12 |
| Year Built | 2019 |
| Parking Ratio | 0.07/1,000 SF |
| Corridor | Interior |
| Zoning | M1-3 |
| Parcel Number | 00475-0030 |
Amenities
- Business Center
- Fitness Center
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
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