A very rare opportunity to get in Queens section of New York City which is only 10 minutes away from Manhattan as well much under replacement cost for brand new hotels.

One hotel is only less then two years old and other two would be ready by end of May 2009.

The 48 Rooms is less then 2 years old and has shown the return of 12% in two years operations. The same type of hotels in Manhattan would cost more then 2 times the seller is asking for these hotels in the very vicinity of Manhattan with the provision of parking. The guest would prefer these hotels then in Manhattan due to available parking with the hotel and convenient train connection to New York City from the subway right near the hotel.

The existing 48 rooms hotel gave a CAP rate of 12% based on 2008 financial results and other two new construction for 221 rooms are projected to give a CAP rate of 14%.

The 48 rooms hotel can be bought separately where as other two for 100 and 221 rooms have to be bought in Portfolio or all three can be bought in portfolio.