Taconic Capital Advisors Acquires Long Island City Hotel From Merchants Hospitality For $38.4M

An undisclosed hotel property located at 11-01 43rd Avenue in Long Island City has been sold for $38,385,823. The transaction took place on May 11, 2021. The buyer, Taconic Capital Advisors, acquired the property from Merchants Hospitality. The hotel spans approximately 31,520 square feet, with a price per square foot of $1,217. The deal also included 100 keys, resulting in a price per key of $383,858.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $38,385,823
• Address: 11-01 43rd Avenue
• Market: Long Island City

Abraham Merchant, Frank Brosens, and Christopher DeLong were involved in the transaction. They were representing the seller, Merchants Hospitality. The previous sale of the property took place in July 2018, with a price tag of $32,250,000.