Massey Knakal Realty Services has been retained on an exclusive basis to sell a hotel development opportunity at 39-35 27th Street, located between 39th and 40th Avenues in the Dutch Kills neighborhood of Long Island City, Queens. Ownership is requesting offers.
Construction of the hotel is approximately one-third complete and upon conclusion, it will total 38,000 square feet and 79 guest rooms. Given the current progress, investors will benefit from a shortened development timeline and the well-developed business plan of the seller, an experienced local hotel developer and operator.
“The offering presents a unique opportunity to acquire a full or partial interest in a hotel in the construction phase, in one of the most rapidly developing hotel markets in the New York metro area,” said Massey Knakal’s Andrew Posil, Director of Sales, Hospitality, who is exclusively marketing this property with Chairman Bob Knakal and David Chkheidze.
The site’s location offers close proximity to the subway providing easy access to Manhattan as well as a growing number of local amenities.
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Neighborhoods: Long Island City