REAL ESTATE HOLIDAY INN IN CORONA WAS SOLD FOR $37.35M IN ALL-CASH TRANSACTION BY ANGELA MATUA amatua@qns.com/@AngelaMatua With its proximity to LaGuardia Airport, a Holiday Inn in Corona was worth $37,350,000 for one hotelier. Located at 37-10 114th St., the eight-story hotel was purchased in an all-cash transaction by Sam Chang of McSam Hotel Group under an LLC called Corona Operating Company. According to Cushman & Wakefi eld, the real estate brokerage fi rm responsible for the sale, Sales in Queens HOMES – CO-OPS – CONDOS Listings and photos courtesy MLSLI NORTHWEST NORTHEAST SOUTHWEST SOUTHEAST JACKSON HEIGHTS MALBA WOODHAVEN PICTURED LISTING QUEENS VILLAGE >$900K 28-33 48th St., Astoria $1,699,000 Colonial, 3 Families 5 Bedrooms 3 Full Bathrooms Pavlos Milonakis, Halvatzis Realty $500-900K 5-19 Borden Ave., Long Island City $840,000 Condo 1 Bedroom 1 Full Bathroom Susan Wu, Exit Kingdom Realty Inc. <$500K 76-19 Ditmars Blvd., Jackson Heights, $469,000 Condo 2 Bedrooms 1 Full Bathroom Rubina Shiblee, Rock Realty Inc. >$900K 33 Boulevard Blvd., Malba $1,425,000 Colonial, 1 Family 3 Bedrooms 3 Full Bathrooms Li Bai, East Coast Realtors Inc. $500-900K 22-18 126 St., College Point $839,000 2 Story, 1 Family 4 Bedrooms 2 Full Bathrooms Huei Hwa Lin AppleWealth Realty Inc. <$500K 251-25 61st Ave., Little Neck $259,000 Co-op 2 Bedrooms 1 Full Changsoon Ann, RE/MAX Frontier >$900K 60-91 70th Ave., Ridgewood $1,499,000 Multi-Family 9 Bedrooms, 3 Full Bathrooms Jaroslaw Kaszuba, Exit All Seasons Realty Inc. >$500-900K 60-88 56th St., Maspeth $848,000 Colonial, 2-Family 6 bedrooms 2 Full Bathrooms, 1 Half Bathroom Lucy Lu Landmark International Realty LLC <$500K 91-47 88th St., Woodhaven $470,000 Colonial, 1 Family 3 Bedrooms 2 Full Bathrooms, 1 Half Bathroom George Herrera & Abigail Herrera Keller Williams Landmark II >$900K 116-04 Rockaway Blvd., South Ozone Park $988,000 Store and Dwell 4 Bedrooms 2 Full Bathrooms, 3 Half Bathrooms Maria Teresa Gonzalez Winzone Realty Inc. $500-900K 218-42 94 Rd., Queens Village $539,000 Colonial, 1 Family, 4 bedrooms 2 Full Bathrooms, 1 Half Bathroom Maria Ramirez Dynamic Properties Realty Inc. <$500K 119-19 179th St., Jamaica $456,000 Colonial, 1 Family 3 Bedrooms 1 Full Bathroom, 1 Half Bathroom David Lucas David Lucas Realty Inc. this represents one of the largest re-development site sales that Corona has seen. “This sale is a signifi cant happening for Corona and a testament to the area’s transformation,” said Stephen Preuss, executive director at Cushman & Wakefi eld. “We are seeing an overfl ow of demand from the Flushing mega-developments into the surrounding areas such as Corona and East Elmhurst.” The hotel offers 226,800 buildable square feet and has 217 units, a pool, an exercise facility, multiple event spaces and parking for 86 cars. Natalie De Paz, a spokesperson for Cushman & Wakefi eld, said the hotel will likely be converted into condos. But Chang, the chairman of McSam Hotel Group, recently announced a partnership with Marriott to build fi ve new airport hotels, including a 350-room Marriott at JFK International Airport, according to The Real Deal. He also owns fi ve other hotels around JFK International Airport, The Real Deal reported. The hotel is only a half-mile from LaGuardia Airport and close to attractions such as Citi Field and Flushing Meadows Corona Park. INTRODUCING A NEW LEVEL OF LUXURY LONG ISLAND CITY, NY EXCLUSIVE OFFER! 1 MONTH FREE* on select units. 888.805.2408 NYCleasing@heatherwood.com www.heatherwood.com/27 * Offer valid on selected units from 8/20/16-9/30/16. Must bring ad in to receive exclusive offer. Restrictions apply. Availability is limited. We are an Equal Opportunity landlord and comply with all fair housing laws. Heatherwood does not discriminate against anyone because of their race/color, national origin, creed, gender, familial status, disability, age, sexual orientation, marital status, military status or source of income.
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