Besen’s Hotel Advisory Group named exclusive agent for 146-key Best Western And Wingate by Windham Properties at 10-21 and 10-25 Beach 21st Street
Besen Partners Hotel Advisory Group has been awarded the exclusive agency for the sale of two newly constructed limited service hotels at 10-21 and 10-25 Beach 21st Street in Far Rockaway, Queens, comprising a Best Western and Wingate by Windham Properties. Completed in 2018 and opened for occupancy in September 2019, the two semi-attached assets encompass 53,858 square feet, with a total of 146 rooms. Ideally located along the area’s burgeoning Downtown business corridor, they are less than six miles from JFK International Airport and directly accessible to public transportation, including the Long Island Railroad, express subway line, and six bus lines.
“These assets are already performing well as business and recreation centers because of their proximity to JFK and public transportation, as well as prominent beaches and entertainment and sports destinations,” points out Anudeep Gosal, who is spearheading the sale at Besen Partners. “They also include amenities that provide value to all types of travelers.”
Among the amenities are multiple meeting rooms, business centers, fitness center with fully equipped gym, complimentary guest breakfasts, free parking and 24-hour airport shuttle service to JFK. Asking price for both assets together is $33,900,000 ($232,000 key) and there is a 25-year ICAP real estate tax abatement.
In addition to Mr. Gosal, the Besen Partners Hotel Advisory Group team on the sale includes Ron Cohen, Chief Sales Officer, Paul J. Nigido, Managing Director, and Matthew Slonim, who is handling financing inquiries.
Since opening fourth months ago, the hotels have been well over 50 percent occupied. Adding to the value of an accessible location for business travelers and vacationers, the Far Rockaway Downtown District has also been slated for a $139 million mixed-use revitalization project that includes the redevelopment of infrastructure and public spaces.
About Besen Partners, LLC
Founded in 1988, Besen Partners is a leading NYC-based real estate firm that provides real estateadvisory, brokerage and management services. Bringing institutional quality real estate solutions to high-net-worth individuals, families, trusts, funds, foundations, and other private investors, Besen’s executive team has been instrumental in the direct purchase, financing, development, asset management and sale of over $5 billion in commercial property assets and has an impressive track record in partnering and co-investing equity with prestigious financial institutions and private investors. Besen’s brokerage division has been named a Top NYC Brokerage Sales Firm by CoStar Research for over 16 years. Its team has brokered the sale of over $7 billion in real estate transactions. NYC Management (Besen’s property management affiliate), has managed over 4 million square feet of commercial assets. www.besenpartners.com.
