The DoubleTree by Hilton simply outdoors John F. Kennedy Worldwide Airport is searching for a purchaser.
Vista Hospitality has put the 385-key lodge at 135-30 one hundred and fortieth Avenue in Jamaica up on the market, The Actual Deal has discovered. The Canadian actual property funding firm is eyeing a value between $75 million and $80 million for the property, which has 5,600 sq. ft of assembly house.
The 12-story lodge was constructed within the Nineteen Fifties and renovated a number of occasions through the years, most just lately in 2024. Eastdil Secured Savills is advertising and marketing the property.
Vista refinanced the lodge in April with a $36.5 million mortgage from Webster Financial institution. The agency, based by brothers Amin and Ally Visram, acquired the lodge in 2008 and it has since undergone a number of model transitions — from a DoubleTree to a Radisson, and again to a DoubleTree.
The homeowners chucked their affiliation with DoubleTree in 2013 in favor of an alliance with Radisson after partially settling a lawsuit alleging Hilton conspired with its guardian firm, the Blackstone Group, and a lender to terminate their franchise settlement and pressure a mortgage default. Vista sued Hilton, claiming the corporate was secretly working with Blackstone and an affiliated lender to finish the franchise deal and foreclose on a $35 million mortgage on the property.
Hilton argued that the default was professional based mostly on the lodge’s failure to fulfill model requirements, together with allegedly charging company the mistaken room charge and levying charges for Web service that company didn’t order.
Vista owns and operates resorts, procuring malls, retirement houses and workplace buildings in Canada and the Japanese U.S.
The agency didn’t instantly reply to a request for remark. Eastdil Secured Savills declined to remark.
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