146-Key Hotel in Far
For Sale
Contact for pricing
Pending
1021 Beach 21st St, Queens, NY 11691
Dual-branded hotel leased to NYC with tax abatement.
Property Size53,868 SF
Days on Market123
Property Features for 1021 Beach 21st St
General Information
Standard status
Pending
Size
53,868 SF
Property subtype
Hospitality
Listing Agency:
Besen Partners
(415) 889-3314
Listed By:
Anudeep Gosal · License #NY New York
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Aug 11 at 6:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Besen Partners
Investment Insights
Based on property information with market context.
This offering features a 146-key hotel property located at Far Rockaway, New York. The property encompasses a total of 53,868 square feet. Constructed as a dual-branded hotel, combining both Wingate by Wyndham and former Best Western, the property is currently leased to the City of New York for its Sanctuary housing program. A 25-year tax abatement started in January 2020. The property is located in close proximity to JFK Airport and several key transport hubs. The A Train Far Rockaway – Mott Ave Station is 0.1 mile away, and the Long Island Rail Road Far Rockaway Station is 0.4 miles away. Far Rockaway is a diverse neighborhood with a mix of commercial and residential entities. The steady rental income from the City of New York makes this property an investment venture.
Key Highlights
- Guaranteed steady income stream through lease with the City of New York for its Sanctuary housing program.
- Enjoy a robust 13.03% Cap Rate, indicating excellent potential for income generation.
- 25‑year tax abatement started in January 2020, significantly reducing tax liabilities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,198
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Dual-branded hotel leased to NYC with tax abatement.
Where is this hotel located?
The property is located at 1021 Beach 21st St Queens, NY.
What are key features of this property?
This property features: Guaranteed steady income stream through lease with the City of New York for its Sanctuary housing program.; Enjoy a robust 13.03% Cap Rate, indicating excellent potential for income generation.; 25‑year tax abatement started in January 2020, significantly reducing tax liabilities.
