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ASAP Holdings Acquires East Elmhurst Hotel From Rubicon Companies For $86.5M

102-05 Ditmars Boulevard @MarriottHotels
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This Hotel property located in NY was sold for $86,547,452 about 3 years ago. The brokers of the deal were Nikhil Chuchra, KC Patel, and Kevin Davis

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.

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Deals
  • Location
    102-05 Ditmars Blvd, East Elmhurst, NY, USA102-05 Ditmars Blvd, East Elmhurst, NY, USA
  • Sale Price
    $86,547,452$86,547,452
    $431 PPSF$431 PPSF
  • Area
    200,700 SF200,700 SF
  • Asset Type
    HotelHotel
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

KC Patel

KC Patel

Deals3
Sold$193.5M

Nikhil Chuchra

Nikhil Chuchra

Deals2
Sold$103.5M

Kevin Davis

Kevin Davis

Deals8
Financed$684.6M

Agency

JLL

JLL

Agency
Deals5584
Volume$332.6B

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Deal Summary

SALE IMAGE: Kevin Davis, Nikhil Chuchra, Frank Yuan, KC Patel, Jerome Yuan DATE: 01/15/2021 ADDRESS: 102-05 Ditmars Blvd @MarriottHotels MARKET: East Elmhurst ASSET TYPE: Hotel BUYER: ASAP Holdings - Frank Yuan & Jerome Yuan (@ASAPShow) SELLER: Rubicon Companies BROKERS: KC Patel, Kevin Davis & Nikhil Chuchra - JLL PRICE: $86,547,452 KEYS: 443 ~ PPK: $195,366 LAST SALE PRICE: $33,663,600 (01/2017)

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102-05 Ditmars Boulevard @MarriottHotels

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