ATLANTA – October 10, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of the Queensboro Hotel in Long Island City, New York. The hotel sold to Shri Hari New York, LLC on behalf of LNR Partners for an undisclosed amount.
“This transaction represented a well timed market purchase for the buyer and will compliment his curre
nt hotel portfolio,” said Keith Thompson, principal of Hotel AG. “The seller was LNR with whom Hotel AG has enjoyed a long relationship.”
The Queensboro Hotel is located five miles from LaGuardia Airport and 12 miles from JFK Airport. The buyer plans to continue to operate the property as an independent.
About Hotel AG
Headquartered in Atlanta, Georgia with 19 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 129 hotels on the market in 33 states valued at $1.3 billion.