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| Holiday Inn Manhattan View Hotel, 39-05 29th Street, Long Island City, NY |
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| Robert Delitsky |
NEW YORK, NY – HFF announced it has closed the $22.4 million ground sale/leaseback and arranged
$21 million financing for Holiday Inn Manhattan View, a 136-key,
full-service hotel located in Long Island City, Queens.
HFF marketed the property on behalf of the seller, Queens
Plaza North, LLC. A New York-based
private investor purchased the land under the hotel and then leased it back to
Queens Plaza North, LLC, for 99 years.
In addition, HFF worked on behalf of Queens Plaza North,
LLC, to secure a fixed-rate loan through CCRE.
Holiday Inn Manhattan View is situated on.29 acres at 39-05
29th Street in Long Island City, approximately three miles west of LaGuardia
Airport and 1.5 miles east of Manhattan.
The 39th Street
Subway station serving the N and Q trains is two blocks from the hotel. The 16-story property offers views of
Manhattan from the top two floors, which have suites. Approximately one-third of the guest rooms have terraces.
The hotel features a full-service restaurant, lounge with
patio space, state-of-the-art fitness center, business center, 800 square feet
of meeting space, concierge and on-site parking.
The
HFF team working on the transactions was led by managing director Robert
Delitsky, director KC Patel and real estate analysts Jackie Ferrer
and Cindy True.
“The
Holiday Inn Manhattan View carries a global brand recognized by international
and domestic travelers and reflects the burgeoning demand for moderately priced
hotel rooms in the outer boroughs with convenient access to Manhattan,” Patel
said.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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