Opened in 1963, the JFK International Airport Hotel is a 184 room, full-service hotel located off North Conduit Avenue, across from JFK International Airport. The hotel was flagged as a Sheraton Four Points and managed by Hampshire Hotels and Resorts, but was converted to a
full-service Sheraton under Sheraton management by the buyer. Upon acquisition in 1997, Boulevard Hotel Associates, LLC began a comprehensive $16.5 million renovation and expansion of the property, which resulted in the addition of 42 guestrooms and creation of a
restaurant, lounge, courtyard and a ballroom.  The JFK International Airport Hotel also contains approximately 4,000 square feet of well-appointed conference space; a restaurant; a lounge; a fitness center; and a full service business center.

Brain Martin, Vice President of Sonnenblick-Goldman Company commented that this transaction "was a situation in which both the buyer and seller recognized an opportunity.  The seller uncovered a unique opportunity to fully renovate the hotel and sell it to an opportunistic buyer.  The buyer will recognize significant near- and long-term upside
by upgrading the Four Points franchise to a full-service Sheraton.  By repositioning the asset to a higher-end brand, the buyer will achieve a strong return on its investment."