George Tsunis, president of George Tsunis Real Estate, Inc., and Anthony Galano, president of AGJR Realty, represented the seller Plainview Enterprises, Inc., Astoria Federal Savings Bank and the purchaser, Plainview Hospitality LLC, in the $12.5 million sale of the Holiday Inn Plainview. The property is a 127-room hotel and catering facility for 300 persons.
The new owner, Plainview Hospitality LLC, plans to invest $2.2 million in renovations and upgrade of the property as per Holiday Inn specifications.
The hotel is located on 3.95 acres at 215 Sunnyside Blvd. It has five meeting rooms totaling 8,700 s/f of meeting space, a catering hall, bar/nightclub, restaurant, exercise and game rooms and an outdoor swimming pool.
In comparison to the recent sale of the 120-room Hampton Inn (rooms only) in Commack for $15 million the Holiday Inn with their additional amenities was a better valued deal.
The Holiday Inn property is located off exit 46 of the Long Island Expressway (Rte. 495). The hotel is also accessible from exit 38 of the Northern State Pwy. and minutes from the Melville Rte. 110 corridor, Woodbury and Syosset office and Industrial Parks.
In comparison to the recent sale of the 120-room Hampton Inn (rooms only) in Commack for $15 million the Holiday Inn with their additional amenities was a better valued deal.
George Tsunis Real Estate, Inc. has been in the real estate business on Long Island since 1991. For more information, visit their website at www.tsunis.com. Tags: