Friday, September 2, 2016

Developer to demolish motel and wait for 421a to come back

From Sunnyside Post:

The Queens Motor Inn in Woodside, a hot sheets hotel where rooms are rented by the hour, will be torn down to make way for a new apartment complex next summer.

Owners of the one-star Yelp reviewed motel, located at 64-11 Queens Boulevard, recently accepted an offer to sell the building which will be finalized come spring.

The hotel is known for its low rates, where guests can book a room for $57 for a four hour stay – or get nightly deals for about $100.

The owner of the hotel, Queemo Corp., recently accepted an offer from developer Gadi Ben Hamo, of Woodside-based Mount Sinai Properties. The sale will not be finalized until next spring. The price details were not disclosed.

Ben Hamo filed the permit for demolition yesterday, and the Inn is scheduled to shut down in May 2017, with demolition and construction beginning soon after that, he said.

Ben Hamo said he plans to build an apartment building that will include about 120 rental units, some of which will be classified as affordable.

He said that he won’t break ground on the project until the state legislature resurrects the 421a tax abatement program, which essentially exempts developers/owners from paying property taxes for 10 to 15 years.


Anonymous said...

In other words: The developer is waiting to cut a deal with the city to build a shelter...

(sarc) said...

Far from the notion of merely owning physical property, the founders understood property rights to include “natural rights.” In an essay on property rights in 1792, James Madison wrote:

"He has a property very dear to him in the safety and liberty of his person. He has an equal property in the free use of his faculties and free choice of the objects on which to employ them…Conscience is the most sacred of all property…the exercise of that, being a natural and unalienable right."

So the owner has the right to legally demolish this structure, we see there is a permit.

This entrepreneur will leave a foul looking "abandoned" site for all to see, forgoing any profits or income.

I am sure there will be outcry to do something.

And voila, variances, plans and tax abatements will be approved...

Anonymous said...

Wonderful more overcrowding. Something nyc doesn't seem to have enough of!

Anonymous said...

Better then turning the hotel into another overpriced shelter, I guess?