McSam Hotel Group Acquires Hotel Development Site In Queens For $7.8M
38-04 11th Street
Development Site
43,458 SF
43,458 SF
Sold 1 year ago
Summary
The property at 38-04 11th Street in New York City's Queens market was recently sold for a total of $7,800,000. This property is a hotel development site with approved plans. The building has a gross square footage of 43,458 square feet and a price per square foot of $180. It features 142 keys, and the price per key comes out to $55,000.
Summary of transaction details:
- Property Type: Hotel Development Site
- Transaction Amount: $7,800,000
- Gross Square Footage: 43,458 sf
- Price per Square Foot: $180
- Number of Keys: 142
- Price per Key: $55,000
The seller of the property was 38-04 11th Street, LLC, while the buyer was McSam Hotel Group. The deal was facilitated by Stephen R. Preuss and Winfield Clifford of Cushman & Wakefield.
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4
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38-04 11th Street
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