The Project is a six-story mixed use hotel located on the Rockaway Peninsula in Queens, New York City. Given the lack of overnight accommodations, day visitors are the predominant tourists today in the area. The Rockaway Beach Hotel will be the only hotel to be developed in the Rockaways since the area’s heyday in the 1950’s, and operated as an independent boutique property.
Integrating surf, beach, art and urban edge into the property are critical elements that will weave through the product’s positioning – in design, service, food and beverage offerings. The Project will be located in the area known as Rockaway Park, on the Rockaway Peninsula in the County of Queens, New York. The site is centrally located by all highways and accessible by all forms of NYC public transport, such as Subway and Ferry. The prospective as a complete and stabilized market value of the project is $53.1 million, which is 3.32 times of the EB-5 investment capital.