Long Island hotel property trades for $14M

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A hotel in Syosset has sold for $14 million. 

Oak Hospitality LLC, an affiliate of a New York-based hotel operating and investment firm, purchased the three-story, 48,000-square-foot Comfort Inn Hotel on .68 acres at 24 Oak Drive. 

Built in 1989, the Comfort Inn has 82 guest rooms, a fitness center, business center and 3,200 square feet of meeting space. 

This is the first time the Syosset hotel property has traded hands since it was developed 35 years ago. 

Charles Chang of Manhattan-based Highcap Group represented the buyer, as well as the seller, Goldcrest LLC, in the sales transaction. 

“The buyer saw a great opportunity to add this incredibly well-built hotel to his family portfolio and will continue to operate the hotel while modernizing the asset and its services,” Chang said in a company statement.