REBusinessOnline

HOTEL DEVELOPMENT SITE SELLS FOR $17.75 MILLION

NEW YORK CITY — Itzhaki Properties has brokered the $17.75 million sale of a hotel development site comprising nearly 170,000 square feet in the Long Island City neighborhood of Queens, New York City. The site consists of five adjacent properties located at 2405 Jackson Ave., 2409 Jackson Ave., 2411-15 Jackson Ave., 2417 Jackson Ave. and 2419 Jackson Ave., between 45th Ave. and 45th Rd. The properties are in close proximity to subway lines G, V, E and the 7. Shay Zach of Itzhaki Properties represented the buyer, a Japanese hotel group, and the seller, an assembled group of local owners, in the transaction.

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