The Crowne Plaza JFK Airport hotel, with 335 rooms in the Jamaica section of Queens, N.Y., has been sold for $84 million, or $250,746/room. The property’s sale will result in the defeasance or likely pay off of a $37.7 million CMBS mortgage that doesn’t come due until May 2027. The hotel has been operating as a respite center under a lease with New York City.

The post Crowne Plaza JFK Hotel Sells for $84Mln; $37.7Mln CMBS Loan Getting Defeased appeared first on Commercial Real Estate Direct.