Bayrock Capital Acquires Corona Hotel From The Moinian Group For $50M

The property involved in the transaction is a Hotel located at 3710 114th St, Queens, NY, 11368, in the Corona market. The sale took place on January 5, 2023, with the buyer being Bayrock Capital and the seller being The Moinian Group. The sale price for this asset was $50,000,000.00.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $50,000,000.00
• Buyer: Bayrock Capital
• Buyer's Representatives: Kevin Louie (Ripco), Stephen R. Preuss Sr. (Ripco)
• Seller: The Moinian Group
• Address: 3710 114th St, Queens, NY, 11368
• Market: Corona

The buyer's representatives involved in the deal were Kevin Louie from Ripco and Stephen R. Preuss Sr. from Ripco. Both parties came to an agreement, finalizing the transaction smoothly.