Vista Group of Companies signs $36.5M refi for hotel in South Ozone Park

Vista Group of Companies through the entity JFK Hotel Owner, LLC as borrower signed a refi loan with lender Webster Bank valued at $36.5 million for the DoubleTree by Hilton New York JFK Airport hotel building (H2) at 135-30 140th Street in South Ozone Park, Queens.
The deal closed on April 30, 2026 and was recorded on May 13, 2026. The prior lender was Webster Bank which held debt that had an original loan amount of $39 million. The property has 199,873 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $182 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on December 22, 2021, for $36.5 million. The signatory for Vista Group of Companies was Ally Visram. The signatory for Webster Bank was Michael Savarese .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Ally Visram, head officer and Luis Paz, site manager. The business entity is JFK Hotel Owner Llc. The 199,873-square-foot property generated revenue of $19.7 million or $99 per square foot, according to the most recent income and expense figures.

The property

The hotel building in South Ozone Park has 199,873 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 208 feet and is 380 feet deep with a total lot size of 72,000 square feet. The lot is irregular. The zoning is C4-2 which allows for up to 3.4 times floor area ratio (FAR) for commercial and up to 2.43 times FAR for residential. The city-designated market value for the property in 2022 is $38.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $8,000 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In South Ozone Park, The bulk, or 27 percent of the 6.3 million square feet of commercial built space are mixed-use buildings, with specialty buildings next occupying 26 percent of the space. In sales, South Ozone Park has the 27th highest sale turnover among other neighborhoods in Queens with $66.7 million in sales volume in the last two years. For development, South Ozone Park has had very little major development activity relative to other neighborhoods.It had 298,055 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the three commercial properties representing 233,210 square feet of the 433,083 square feet. The identified owner is Bayrock Capital.
There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 433,083 square feet of built space are hotel buildings, with specialty buildings next occupying 0 percent of the space.

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