Jacob Rad's LIC Hotel Property Sells In Long Island City For $40.5M

A hotel property located at 39-06 30th Street in Long Island City has been recently sold for a total price of $40,500,000. The property spans across 63,649 square feet, resulting in a price per square foot of $636. This transaction involves the sale of the hotel asset.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $40,500,000
• Address: 39-06 30th Street, Long Island City
• Market: Long Island City
• Square Footage: 63,649
• Price per Square Foot: $636

Jacob Rad, the representative of the LIC Hotel Property, acted as the seller in this transaction. The seller was represented by Gary Rosen, an attorney from Rosen Law LLC located in Great Neck. The involvement of Gary Rosen and Rosen Law LLC highlights the legal aspect of the deal.