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166 Beach 116th 14,025 SF 100% Leased Flex Building Rockaway Park, NY 11694 $5,304,496 CAD ($378.22 CAD/SF)
INVESTMENT HIGHLIGHTS
- It comes with a previous Certificate of Occupancy (C/O) for 38 Class B units (hotel rooms) and one Class A unit.
- The site boasts excellent public transit accessibility, positioned one block from the A train subway terminal (Rockaway Park-Beach 116 Street).
- The property is well-suited for multiple high-yield scenarios, including leveraging City programs such as FHEPS for transitional housing.
- The property is situated just steps from the Rockaway Boardwalk and the ocean, offering a high-demand coastal location.
EXECUTIVE SUMMARY
Exceptional investment and redevelopment opportunity for a three-story hospitality asset located in the core of the Rockaways. The property is positioned on Beach 116th Street, providing immediate, direct access to the oceanfront and the newly enhanced Rockaway Boardwalk.
The existing structure, previously operated as a hotel, features a substantial infrastructure including 38 guest rooms and a dedicated caretaker or management apartment.
The site is governed by flexible R7A/C1-3 zoning, facilitating multiple paths for value creation, including: the rehabilitation and re-establishment of a boutique hotel, conversion to market-rate residential units (rental or condominium), or a strategic mixed-use configuration.
Its location is complemented by superior transit infrastructure, situated adjacent to the A train terminus (Rockaway Park-Beach 116 Street) and the NYC Ferry dock, ensuring high connectivity to Manhattan and the outer boroughs. This offering represents a rare opportunity to capture significant upside in a growing coastal New York City submarket.
The existing structure, previously operated as a hotel, features a substantial infrastructure including 38 guest rooms and a dedicated caretaker or management apartment.
The site is governed by flexible R7A/C1-3 zoning, facilitating multiple paths for value creation, including: the rehabilitation and re-establishment of a boutique hotel, conversion to market-rate residential units (rental or condominium), or a strategic mixed-use configuration.
Its location is complemented by superior transit infrastructure, situated adjacent to the A train terminus (Rockaway Park-Beach 116 Street) and the NYC Ferry dock, ensuring high connectivity to Manhattan and the outer boroughs. This offering represents a rare opportunity to capture significant upside in a growing coastal New York City submarket.
PROPERTY FACTS
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Walk Score®
Very Walkable (83)
Transit Score®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 16188-0070 | Improvements Assessment | $144,741 CAD |
| Land Assessment | $178,230 CAD | Total Assessment | $322,971 CAD |
PROPERTY TAXES
Parcel Number
16188-0070
Land Assessment
$178,230 CAD
Improvements Assessment
$144,741 CAD
Total Assessment
$322,971 CAD
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166 Beach 116th
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