A hotel to become a Staybridge Suites in Long Island City now belongs to a nursing home operator who has been active in New York City dealmaking.
Centers Health Care’s Daryl Hagler bought the property at 38-59 11th Street where the unopened 240-key hotel stands for $63 million from an entity called 559 Development LLC, according to city records filed Monday.
Centers Health Care declined to comment. It wasn’t immediately clear who controls the entity that sold the property. The seller of 38-59 11th Street paid $6.2 million for the site in 2013, according to city property records.
The hotel was complete at the time of its sale, said Josh Zegen of Madison Realty Capital, which lent developer Teddy Li $46 million in 2019 to help finish the 183,000-square-foot hotel and community facility. Construction had begun in 2018.
It’s unclear when the 24-floor Staybridge Suites will open. IHG Hotels & Resorts, Staybridge’s parent company, did not comment by press time.
Hagler has been involved in several deals across New York City in recent months. In May he purchased the nearby 100,000-square-foot former DeNobili cigar factory at 35-11 9th Street in Astoria and its 6,000-square-foot parking lot for $26.4 million from real estate investor Bruce Brickman.
3 comments:
C'mon man, don't insult the tacos said...
Build Baby Build !
How should the Sheeple react to this one? What sayeth the right-wing “think tank” on this issue?
What sayeth the right-wing “think tank” on this issue?
Meh, whatever. It's in a lousy part of LIC, literally down the street from the ghetto of Queensbridge. No sane person would have stayed in a hotel there. So turn it into a nursing home. Why not?
Of course, the nursing home will probably be owned and run by foreigners and it will have lousy, abusive service and exploitative prices targeting Medicare, but that's just par for the course. They will fill it full of Joe Biden like vegetative people who are too poor to get anything better, and then Farouk or Schmuley will make a ton of money. The staff will be entirely illegal aliens.
See, I can predict the future.
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