Connect with us

Acquisitions

Lightstone acquires 29-21 41st Avenue

Western Alliance Bank provided the acquisition debt

29-21 41st Avenue (Credit: CoStar)

Lightstone Group has acquired the Long Island City Hilton Garden Inn from Sagamore Capital andRanger Properties for $60 million. The newly built 183-key hotel is located at 29-21 41st Avenue.

Financing Details: Lightstone secured a $35 million acquisition loan from Western Alliance Bank.

Heard on the street: Lightstone President Mitchell Hochberg told the CO: “We’re investing in growing our hospitality portfolio at all levels where we see value, and we see high potential in growing, transit accessible areas like Long Island City.

Continue Reading
To Top