Shulem Herman Acquires Crowne Plaza JFK Airport Hotel From GFI Capital For $84 Million In Jamaica

The Crowne Plaza JFK Airport hotel located at 138-10 135th Ave in Jamaica, Queens, was sold for $84 million. The hotel comprises 335 rooms, with each room valued at approximately $250,746.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $84,000,000
• Buyer: Shulem Herman
• Seller: GFI Capital Resources Group - Allen Gross
• Number of Rooms: 335
• Price Per Key: $250,746
• Date of Sale: 09/28/2023

Shulem Herman acted as the buyer in this transaction, while GFI Capital Resources Group, represented by Allen Gross, was the seller. The transaction reflects a significant investment in the hospitality sector within the Jamaica, Queens market.