Merchants Hospitality Acquires Mixed-Use Property In Long Island City For $38M

The mixed-use property located at 11-01 43rd Avenue in Long Island City was involved in a closed transaction. The property, known as the Z NYC Hotel, was part of a deal that included several key individuals and companies.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $38,000,000

The lender for this transaction was Taconic Capital Advisors. The landlord of the property was Merchants Hospitality, represented by Adam Hochfelder and Abraham Merchant. The deal was facilitated by Iron Hound Management, with Chris Herron and Kevin Thompson acting as brokers in the transaction.

It is worth noting that Merchants Hospitality is a prominent hospitality company in New York. The involvement of Taconic Capital Advisors as the lender highlights their confidence in the potential of the property, and the expertise of Iron Hound Management in brokering the deal showcases their strong presence in the real estate market.