VACANT HOTEL FOR SALE IN CORONA QUEENS FULLY APPROVED FOR RESIDENTIAL DEVELOPMENT
Asking Price: $50,000,000.00
Corona NY is a previously operating Holiday Inn hotel with potential for conversion to alternate uses. The building will be delivered vacant. The existing building square footage is approximately 106,920 square feet including 217 keys, recreational space, conference rooms, lobby area, etc. The building is free-standing, facing Hinton Park and the Grand Central Parkway. The hotel is equipped with a pool, exercise facility, multiple meeting and banquet rooms, and restaurant space on the lobby level.
Corona NY is an approximately 15,625 square foot lot on the northwest corner of 38th Avenue and 114th street. The lot is primed for development and allows up to approximately 81,000 buildable square feet, as of right. Currently on the property is a parking structure previously used by the neighboring hotel. The property will be delivered with fully-approved plans for approximately 81,356.83 buildable square feet with ~80,607.93 square feet of residential space and ~748.87 square feet of community facility space. Additionally, the building will have cellar, sub-cellar, and above grade parking provided for up to 90 attended parking spaces. The underlying zoning (C2-4 / R6) allows for up to ~37,969 buildable square feet as of right, or ~75,000 buildable square feet max.
TURN-KEY 217-KEY HOTEL DELIVERED VACANT & ADJACENT FULLY-APPROVED RESIDENTIAL DEVELOPMENT SITE
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