Jaz Patel Acquires Hotel In Long Island City, Queens For $17M

A hotel located at 38-60 13th Street in Long Island City, Queens has been sold for a price of $17,000,000. The property spans an area of 31,015 square feet, resulting in a price per square foot of $548. The hotel has a total of 72 keys, making the price per key $236,111.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $17,000,000
• Address: 38-60 13th Street, Long Island City, Queens
• Square Footage: 31,015
• Price per Square Foot: $548
• Number of Keys: 72
• Price per Key: $236,111
• Buyer: Jaz Patel
• Seller: George Baharestani & James Juhn
• Brokers: Anudeep Gosal & Niko Berdzeni - Besen Partners

The sale of this hotel was facilitated by the brokerage team of Anudeep Gosal and Niko Berdzeni from Besen Partners. They represented both the buyer, Jaz Patel, and the sellers, George Baharestani and James Juhn, in the transaction.