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Paceline Equity Acquires Home 2 Suites By Hilton Hotel In Long Island City For $34.5M

Property Image
SOLD
$34,500,000

New York

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Hotel63,648 SF
Sold 07/20/2023
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Property Image
SOLD

Paceline Equity Acquires Home 2 Suites By Hilton Hotel In Long Island City For $34.5M

29 14 39th Ave Queens, Ny 11101, Usa

See Similar Deals
Hotel63,648 SF
Sold 07/20/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$542
Total Square Footage:63,648 SF
Transaction Type:Sale

Paceline Equity Partners has acquired the Home 2 Suites by Hilton hotel building in Long Island City, Queens for $34.5 million. The property, located at 29-14 39th Avenue, offers a total square footage of 63,648. The price per square foot stands at $542.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $34,500,000
  • Address: 29-14 39th Avenue
  • Market: Long Island City, Queens
  • Buyer: Paceline Equity Partners - Kyle Volluz
  • Seller: Radson Development - Jacob Rad & Sandy Rad
  • Square Footage: 63,648
  • Price Per Square Foot: $542

Kyle Volluz represented Paceline Equity Partners in this transaction, while Jacob Rad and Sandy Rad acted as the representatives for Radson Development. The deal between the two parties was finalized on July 20, 2023.

Players

PP
Paceline Equity Partners
BUYER
JR
Jacob Rad
2 deals$75M volume
SELLER
RD
Radson Development
SELLER

Details

SOLD
IMAGE: Kyle Volluz & Jacob Rad DATE: 07/20/2023 ADDRESS: 29-14 39th Avenue MARKET: Long Island City, Queens ASSET TYPE: Hotel BUYER: Paceline Equity Partners - Kyle Volluz SELLER: Radson Development - Jacob Rad & Sandy Rad SALE PRICE: $34,500,000 SF: 63,648 ~ PPSF: $542 NOTE: Paceline Equity Partners acquired the Home 2 Suites by Hilton hotel building in Long Island City, Queens, from Radson Development, represented by Jacob Rad and Sandy Rad, for $34.5 million.

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Debt Service Coverage Ratio (DSCR)

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