Z Hotel sold, may see tall building behind it

From the NY Post:

The Z NYC Hotel in Long Island City has been sold to Merchants Hospitality for $43 million.

The 7-year-old hotel at 11-01 43rd Ave. was developed in 2011 by former taxi magnate Henry Zilberman. He died in March 2014, and Merchants purchased the hotel from the estate.

The pricing was not just for the hotel but also included additional land behind the hotel that Merchants can use to add value through another building with 109 apartments.