Cushman and Wakefield arranges sale of Marriott Laguardia Airport Hotel - Cushman & Wakefield

CUSHMAN & WAKEFIELD ARRANGES SALE OF MARRIOTT LAGUARDIA AIRPORT HOTEL

Cushman & Wakefield announced today that it represented ownership in the sale of New York LaGuardia Airport Marriott, a 438-room property situated directly across from New York’s LaGuardia International Airport, to Rubicon Companies, a Greenwich Connecticut hospitality and real estate investment company founded by Marc Gordon, former president of Morgans Hotel Group.

The New York LaGuardia Airport Marriott is one of the premier hotels in Queens with 438 guest rooms, over 15,000 square feet of renovated event space, and a recently renovated lobby and 24-hour fitness center. The hotel is also just a short distance from the attractions of Manhattan, Brooklyn, and Long Island, as well as nearby Queens experiences at CitiField, the National Tennis Center, the World’s Fair Marina, Flushing-Meadows Corona Park, and Belmont and Aqueduct Race Tracks.

Tom McConnell and Dan Falvey of Cushman & Wakefield’s Global Hospitality Group represented Capmark Bank and Allied Irish Bank in the transaction.

“This hotel is the premier full-service hotel and meeting destination in Queens, and one of the most prominent airport hotels in the US,” said Mr. McConnell, A Cushman & Wakefield Executive Managing Director. “We received incredible interest during the sale, which highlights the continued demand for well-located, high-quality hotels throughout New York City, including the outer boroughs.”

In recent months, Cushman & Wakefield’s Global Hospitality Group has been involved in several of the nation’s premier hotel transactions, including the sales of the Courtyard Upper East Side in Manhattan and the J.W. Marriott in San Francisco, as well as the debt and equity recapitalization of the Crowne Plaza Times Square, the refinancing of a portfolio consisting 50 Courtyard Hotels, and the debt and equity recapitalization of the iconic Beverly Hilton Hotel.