Hilton Garden Inn - Development Site with Building Permit
Hospitality | 221 Keys
Marketing description
Great Opportunity … Fully Approved Hotel Development Opportunity with Building Permit
The approved 26-story Hilton Garden Inn (HGI) with 221 rooms on Sutphin Boulevard is destined to become a defining landmark of the local skyline.
Location - Prime Location by the Jamaica Train Station offering convenient access to major corporate hubs like Penn Mutual, Bimbo Bakeries, Apex Mortgage Corp, and others. Additionally, the hotel benefits from its proximity to significant healthcare facilities, including the Asplundh Cancer Pavilion and Abington Hospital.
The HGI Development Site is directly adjacent to the Jamaica Transit Hub with access to the Long Island RailRoad, MTA subway (E, J, Z), JFK AirTrain, & multiple bus lines and a dense retail corridor.
❖Site work has been completed and building permit has been issued
All site work has been completed, and the building permit has been fully issued, allowing immediate continuation into vertical construction. This milestone materially reduces entitlement and timing risk and enables rapid mobilization post-closing.
❖Over $1M in development costs already invested: The Seller has already invested in excess of $1,000,000 in hard and soft development costs, significantly de-risking the project
❖ICIP 25 Year Tax abatement: The project benefits from a 25-year ICIP property tax abatement, materially reducing real estate tax expense and insulating cash flow from future assessment volatility.
❖Parking waiver: Seller secured a parking waiver limiting excavation and presenting a cost and timeline advantage
❖ADR and OCC are based on 4th quarter 2025 comp set performance
❖Market cap rate November 2025 is 7.9% according to CoStar
❖With a stabilized NOI of $7,788,000 = a value of $98,582,278
∙Occupancy forecast stabilizing in the high‑80s% by 2027–2028; ~88.8% in 2028 (HVS).
∙ADR forecast for 2028 ≈ $293.63 with continued ADR growth on restricted pipeline (HVS).
Investment highlights
The Planned Hilton Garden Inn will be 221 rooms, institutional quality full-service hotel strategically located and highly visible at Jamaica Station/Air Train in Jamaica, Queens New York.
❖The project will be first of its kind in the immediate market and will offer amenities that will compliment the guests staying at the hotel. The Hotel will enjoy excellent location with direct 10-15 min train ride access to All JFK Airport Terminals, 25 minutes direct train ride to Manhattan, 20-to-40-minute train ride to neighborhoods in Brooklyn and easy travel via Long Island railroad to all of Long Island.
❖Opportunity to construct a hotel that is true transit-oriented relieving the need for the use of a car transport. The Air Train and LIRR stations directly across the street from the site make this possible. Future guests will have access to beaches, downtowns and all of Queens via a well-planned railroad infrastructure.
❖The hotel will be the only hotel directly across from the Jamaica Station and become the primary hotel identified with the neighborhood area of Station Plaza. The hotel will generate bulk of its revenue from JFK Airport, Jamaica Downtown, Queens & Western Nassau County. Downtown Jamaica has several other key projects planned around this hotel at Station Plaza between Sutphin Blvd & Archer Ave.
❖The Seller’s intent was that this project will receive at least minimum LEED certification as well as employ green building standards.
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