50 Keys. Fee-Simple Control. Long Island City Connectivity. A rare opportunity to acquire the fee-simple interest in Mayfair Inn & Suites, a 50-key, 16-story hospitality asset located at 38-58 12th Street in Long Island City, Queens. Offered at $13,200,000, the property was constructed in 2017 and comprises approximately 18,683 square feet on a 2,975-square-foot, M1-3-zoned lot. The building combines boutique scale, contemporary guest-room inventory and a highly connected location minutes from Midtown Manhattan. A defining feature of this offering is the level of control and flexibility available to incoming ownership. The property is presented as brand- and management-unencumbered and non-union, allowing a purchaser to evaluate the complete range of lawful operating, branding, management, leasing, capital improvement, repositioning and long-term ownership strategies best aligned with its objectives. A purchaser may consider continued independent operation, owner-operation, third-party management, affiliation with a nationally recognized franchise, implementation of a soft-brand concept, a new lease-based structure, strategic renovation, operational enhancement, repositioning within the hospitality market or another permitted business plan. No single strategy is prescribed or required by the offering, and the available possibilities are not limited to these examples. The asset also benefits from a significant, ICAP tax benefit. The ICAP benefit extends through June 30, 2044 and reduced the gross 2025 Q3 annual real estate tax from approximately $147,493 to approximately $29,290. This meaningful reduction in carrying costs further supports the property’s operating profile and long-term investment potential. Mayfair Inn & Suites is strategically positioned within one of New York City’s most active and connected mixed-use districts. The property offers convenient access to Midtown Manhattan through the Ed Koch Queensboro Bridge and Queens-Midtown Tunnel, together with connections to the Brooklyn-Queens Expressway, Long Island Expressway and Grand Central Parkway. Nearby subway service at 21st Street-Queensbridge, Queensboro Plaza, Queens Plaza and Court Square provides access to numerous lines serving Manhattan, Brooklyn and greater Queens. Citi Bike, bus service, the Long Island City ferry landing and the Hunters Point Avenue LIRR station provide additional transportation options. Long Island City’s established residential base, expanding business community, cultural destinations and proximity to Manhattan support a diversified hospitality market. The property is positioned to capture corporate, leisure, group, event, airport-related and Manhattan-overflow demand. Its accessibility to LaGuardia Airport and JFK International Airport further broadens the potential guest base. With fee-simple ownership, 50 existing keys, a long-dated tax benefit, contemporary accommodations and the freedom to shape the asset’s next chapter, Mayfair Inn & Suites presents a compelling opportunity to acquire a strategically located New York City hospitality property and pursue the ownership strategy that best meets the purchaser’s individual goals.