Daniel Rabinowitz's Bayrock Capital Acquires Long Island City Hotel For $23.98M

Bayrock Capital's entity, 44-21 9th Street LLC, has acquired a hotel building (H3) located at 44-21 9th Street in Long Island City, Queens. The property was purchased from Mandy Lema, Xiaodong Zhao, and Joseph Huang's entity, 4429 Hospitality Group LLC, for a total of $23,982,077. The hotel spans an area of 49,001 square feet, resulting in a price per square foot of $489.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $23,982,077
• Square Footage: 49,001
• Address: 44-21 9th Street, Long Island City, Queens
• Market: Long Island City, Queens

Daniel Rabinowitz, representing Bayrock Capital, facilitated the purchase of the hotel building from the sellers: Mandy Lema, Xiaodong Zhao, and Joseph Huang. The acquisition was made by Bayrock Capital's entity, 44-21 9th Street LLC, for a price of $24 million.

Note: Bayrock Capital's entity, 44-21 9th Street LLC, acquired the hotel building (H3) at 44-21 9th Street in Long Island City, Queens, from Mandy Lema, Xiaodong Zhao, and Joseph Huang's entity, 4429 Hospitality Group LLC, for $24 million.