Marcus & Millichap Brokers Sale of Hospitality Property in New York's Hudson Valley
January 22, 2025
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NEW YORK, Jan. 22, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Holiday Inn & Suites Chester-Monroe-Goshen, an IHG Hotel in Chester, New York. The 80-room hotel asset sold for $10.5 million.
"The hotel had already completed the Formula Blue PIP a few years ago, but the new owner will also be refreshing the property," said Jerry Swon, investment specialist in Marcus & Millichap's Manhattan office. "The I-84 corridor has been good to me over the years. I am pleased to have executed another successful transaction on behalf of the buyer and seller in this region."
Swon exclusively marketed the property on behalf of the private seller and procured the buyer, also a private investor.
Located at 2 Bryle Place, the Holiday Inn & Suites is positioned off U.S. Route 6, near Goose Pond Mountain State Park, Woodbury Common Premium Outlets, Stewart International Airport, and West Point. Hotel amenities include an indoor pool, fitness center and business center.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.