Sunny Bhatti And Taran Bhatti Acquire Hotel In Long Island City For $14.32M From Rialto Capital

This transaction involves a hotel asset located at 29-11 39th Avenue in Long Island City. The sale price for the property was $14,317,000, encompassing a total square footage of 28,350. The sale also reflects a price per square foot of $505 and includes 62 keys, equating to a price per key of $230,919.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $14,317,000
• Buyer: Sunny Bhatti & Taran Bhatti
• Seller: Rialto Capital
• Square Footage: 28,350
• Price Per Square Foot: $505
• Number of Keys: 62
• Price Per Key: $230,919
• Date of Transaction: 1/8/2026
• Market: Long Island City

Sunny Bhatti and Taran Bhatti, representing the buyers, have successfully acquired this hotel through an all-cash deal, enhancing their hospitality portfolio. They express a commitment to ongoing investments in the hotel sector and are actively seeking additional opportunities for hotel and motel acquisitions in the Bronx, Brooklyn, and Queens.