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.