Pan American Hotel Still Up For Grabs

NEW YORK CITY-A seven-story hotel on a heavily trafficked thoroughfare between LaGuardia and JFK Airports is on the sales block. Massey Knakal Realty Services has been exclusively retained for the disposition of the Pan American Hotel at 79-00 Queens Blvd., a 216-key, 86,500-square-foot building in Elmhurst.

Thomas Donovan, a partner at Massey Knakal who represents Queens and Long Island, tells GlobeSt.com that the hotel is currently owned by a private owner/operator who is exploring “other business ventures” and is seeking new buyers for the site. The property encompasses an entire city block and features 560 feet of frontage on Queens Boulevard, which could provide opportunities for ground-floor retail opportunities in a high-visibility area, he explains.