Bayrock Capital, a private investment firm based in Valley Stream, LI has purchased a Holiday Inn in Long Island City for $76.5 Million.
The 381–room, 114,000 sq. ft. hotel at 37-10 10th Street was built in 2022.
KFIR Capital’s Jake Blatter represented Bayrock Capital Group in the off-market deal that sold for $671 per sq. ft.
The seller was the McSam Hotel Group owned by Sam Chang,
The Holiday Inn hotel features a business center, 24-hour fitness center and 24-hour snack market in the lobby.
“We remain bullish on the hospitality sector and we plan to deploy additional capital allocated towards hotels in the next few months “ said Blatter. “The buyer is financing the $76.5 million in an all cash private debt fund deal.”
KFIR Capital a full service advisory and acquisition firm was founded by Jake Blatter in 2016 and has successfully completed over $4billion in transaction volume. KFIR Capital through its subsidiary KFIR capital advisors focuses on the acquisition of industrial assets nationwide.
