Long Island Marriott in Uniondale sold to Uniondale-based group
The Marriott hotel in Uniondale, seen here on March 24. The hotel has been sold for an undisclosed amount to a real estate investment company that's headquartered nearby, officials said. Credit: Daniel Brennan
The Long Island Marriott hotel in Uniondale, the region’s largest, has been sold for an undisclosed amount to a real estate investment company that’s headquartered nearby, officials said.
Navika Capital Group, through a subsidiary, Royal Blue Hospitality LLC, recently bought the 615-room hotel, said Lisa Cairo, an attorney for the seller, Starwood Capital Group.
Only 25¢ for 5 months
The Long Island Marriott hotel in Uniondale, the region’s largest, has been sold for an undisclosed amount to a real estate investment company that’s headquartered nearby, officials said.
Navika Capital Group, through a subsidiary, Royal Blue Hospitality LLC, recently bought the 615-room hotel, said Lisa Cairo, an attorney for the seller, Starwood Capital Group.
Navika, based in Uniondale, also owns the Huntington Hilton and about 60 hotels and motels across the country, Cairo told a meeting of the Nassau County Industrial Development Agency last week.
The IDA consented to the Long Island Marriott sale; in 2014 it granted 20 years of tax breaks in support of hotel renovations valued at $25 million.
The county owns the land that the hotel sits on but doesn't have to approve the transaction.
"Under the terms of the lease between the county and the owner of the Marriott, county consent to transfer of the lease is not required," Evlyn Tsimis, deputy county executive for economic development, said Monday.
The Long Island Marriott is located at the Nassau Hub, adjacent to Nassau Veterans Memorial Coliseum. The hotel has been owned by Starwood since 2014 when the late Charles Wang, owner of the Islanders hockey club and co-founder of CA Technologies, sold the property for more than $66 million.
Wang was forced to sell the hotel after lenders filed for foreclosure when debt payments weren’t made. Wang had purchased the hotel in 2005 from Urgo Butts & Co. of Maryland to bolster his proposed Lighthouse Project at the Hub. That project never came to fruition because of opposition from Hempstead Town.
Under Wang’s ownership the Long Island Marriott underwent a $22 million upgrade in 2006 and received 10 years of tax breaks from the Hempstead Town Industrial Development Agency.
Navika purchased the Huntington Hilton two years ago for $52 million. It was the company’s first local property after being started in 2005.
Navika officials did not return a telephone call seeking comment on Monday.
Sneak peek inside Newsday's fall Fun Book NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta explore the fall 2024 issue of Newsday's Fun Book.