ASAP Holdings Acquires East Elmhurst Hotel From Rubicon Companies For $86.5M
102-05 Ditmars Blvd, East Elmhurst, NY, USA
$86,547,452
$431/SF
Building Size
200,700 SF
Asset Type
Hotel
Closing
Jan 15, 2021
About this deal
AI
The asset involved in this transaction is a hotel located at 102-05 Ditmars Blvd in East Elmhurst. The property was sold on January 15, 2021. The hotel is situated close to Marriott Hotels and offers a total of 443 keys. The sale price for the hotel was $86,547,452, with a price per key of $195,366. It is worth noting that the previous sale price for the property was $33,663,600 in January 2017.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $86,547,452
- Address: 102-05 Ditmars Blvd
- Market: East Elmhurst
The buyer in this transaction was ASAP Holdings, represented by Frank Yuan and Jerome Yuan. The seller was Rubicon Companies. The deal was facilitated by brokers KC Patel, Kevin Davis, and Nikhil Chuchra from JLL.
On the Map
$86,547,452
$431/SF
Hotel
View full map
Players
East Elmhurst Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Visit KC Patel to view all their deals.
Browse New York hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93