ASAP Holdings CEO Frank Yuan and LaGuardia Marriott
New York LaGuardia Airport Marriott and a massive development site have sold for a combined $103 million.
The 443-key Marriott at 102-05 Ditmars Boulevard sold for $86.6 million, and the 1.5-acre development site which could hold a 750,000-square-foot project sold for $17 million, according to property records filed with the city on Friday. The sale closed last month.
The buyer, California-based private equity firm ASAP Holdings, announced the deal on its website without a price, saying it plans housing and a community center on the development site. The firm also explained its hotel purchase, which comes as the larger market continues to endure heavy turbulence.