Saturday, June 11, 2016

Bayside's Anchor Inn sold for $16M


From the NY Real Estate Journal:

Charles Chang, a senior director at Highcap Group, has arranged the sale of the Anchor Inn located at 215-34 Northern Blvd., between 215th Pl. and 216th St., in the Bayside neighborhood. The two-story 27,000 s/f, 66-key hotel was under long-term ownership for close to 50 years and comes with an additional 13,000 s/f of air rights.

Chang said, “The flexible C2-2/R6B zoning allows for multiple uses. Potential plans include the addition of one floor plus another 44 keys which would bring the total to 110 with a maximum usable floor area of 40,000 s/f.” The property is situated west of the Cross Island Pwy., and within walking distance to the Long Island RR Bayside Station. It has 200 ft. of frontage on Northern Blvd., a busy thoroughfare near the main shopping district on Bell Blvd.

The property sold for $15.9 million, which is $241,000 per key.

17 comments:

Anonymous said...

Future brothel! Who needs (or wants) a hotel room in Bayside?

(sarc) said...

This will be the newest member of the "non profit" homeless services mafia...

Anonymous said...

Seriously, do we really need more housing, people or cars in queens?!?

Anonymous said...

It's much cheaper to stay in a hotel in Bayside. Then take a quick ride on the LIRR to Manhattan and save a lot of money compared to the extortionist hotel prices in midtown.

Anonymous said...

Yep...more overcrowding....more congestion. This will be used for all the prostitutes coming into bayside or it might just become a hotel where all of china lives in for cheap.

Anonymous said...

Future Korean church.

Anonymous said...

Who needs (or wants) a hotel room in Bayside?

I'm not saying that it won't be used for nefarious purposes, but people do use hotels in NE Queens. For example, people who come back to Queens from out of state for bridal showers, weddings, etc., and who can't (or don't want to) stay in relatives' houses/apartments. Or, people on business trips, because their companies won't pay the expensive hotel rates in Manhattan.

JQ LLC said...

This is not going to be a hotel. Since air rights have got into the picture, expect a luxury high rise.

Really, 15 million for a hotel, in Bayside?

Anonymous said...

Born and raised in Flushing. I use the Anchor Inn all the time because I work out of state, and there isn't always room at my parents house. Nor do I wish to impose when I visit Queens.

The other articles mention that the hotel is "for" Asian travelers. Me being of Irish ancestry, I guess I'm no longer welcome.

Alfredo Centola said...

Like every other new hotel opening up in obscure locations, this one will become a shelter. Its part of the plan to close housing projects and free up waterfont and prime real estate.

Yes this was a hotel. A notell motel but bigger and newer. Welcome housing project.

Anonymous said...

check with unhrc & one may find out how many illegal immigrants-migrants-unaccompanied children (S.A.),Visa waiver overstays from the S.E.Asian area will be housed here, paid for by the U.S.taxpayer. In 2015,10,000,000 visas were issued by the U.S.. It is reported that 60% of visa immigrants return to their countries.

Anonymous said...

Yeah totally what we need another "luxury high rise" here in Bayside. Way to go JQ LLC great decision. That is really gonna benefit the community of Bayside. I mean like we don't have enough high rises with The Towers at Waters Edge and The Bay Club.

Anonymous said...

homeless shelter for sure look on queens boulevard all the empty apartments are being used as homeless shelters and our congressmen and congresswomen agree on this plus they get $3,000.00 a month per family - read between the lines -

JQ LLC said...

it's funny how it costs 3 grand to provide shelter. It just happens to be the market median rent

prior anon: I couldn't tell if you thought if I endorse more towers, because I definitely do not. I just see this as more hyper development, although a lot of theories on it becoming a shelter is definitely feasible, because the way the city alleviates the homeless is to put them out of sight. They only care about property values when an area suddenly gets labeled hot or trendy in the Times or Vogue.

Speaking of visas, could this influx of tenants be the result of EB-5 issued to chinese businesses looking to invest and build here, because that's what is driving pacific park in Brooklyn, and I can help but notice seeing a lot of chinese construction workers on tower sites in Manhattan lately.

Forgive me for any latent xenophobia

Anonymous said...

that hotel is used by more underage kids who throw parties more than anything else.....not needed

Anonymous said...

Future brothel! Who needs (or wants) a hotel room in Bayside?
Ignorant comment as usual. Either you live in a cave or doesn't get out much or doesn't live in bayside. My friend's dad is a hotel developer and there are needs for hotel based on professional market research compare to your 'ignoramous research'. If I'm a developer, I hope and wish other developers people think like you because I will then develop them and get all the business there before others get a hold. I will be rich! But again most developer doesn't think like ignorant people like you. Yes I'm on the attack. Bring it on. Ignorant bastard annoys me...so I like to annoy them back.


Born and raised in Flushing. I use the Anchor Inn all the time because I work out of state, and there isn't always room at my parents house. Nor do I wish to impose when I visit Queens. The other articles mention that the hotel is "for" Asian travelers. Me being of Irish ancestry, I guess I'm no longer welcome.
That is bullshit. You know writers are just that, writers. It's like sports writers doesn't know shit about sports but still write about it from a speculation standpoint. If I'm a developer, I will welcome you no matter what as long as you have the greens to give me. Same with my friend's uncle who is Chinese. In fact, one of the hotels he built in Queens is so popular and has a good rating on tripadvisor that many bigots doesn't even know a chinese, yes.. I repeat - a chinese person, built it because it's cater to internationalism. That's why bigots are bigots - they are ignorant and uneducated and racist. Thank you.





Arcangel y De La Ghetto said...

The people of Queens don't care and they too busy listening to my music and having good times

https://www.youtube.com/watch?v=sPLGjT1qZH8

Prrra