Proximate to Demand Drivers

One of the closed hotels to LaGuardia airport - less than a mile - and only Hilton-branded hotel in the area. Also close to Citi Field, home of the MLB Mets, and the National Tennis Center, one of the world's largest public tennis facilities and home to the U.S. Open.

Reduction of supply

Five hotels have gone offline, and the submarket has seen a 24.6% increase in RevPAR.

Strong Basis

Six comparable transactions have sold for an estimated average value of $295K/key. This represents an 49% premium to loan basis ($198K/key).