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New York & Tri-State  + Long Island  + Hospitality  |  May 7, 2021
Paul Bubny
By: Paul Bubny

Beachfront Hotel Trades on Long Island’s South Shore

JLL Hotels & Hospitality has closed the sale and an acquisition financing for the Allegria Hotel, a 156-key luxury beachfront hotel located in Long Beach, NY, on Long Island’s South Shore. Pricing wasn’t disclosed. 
 
JLL represented the seller, Stabilis Capital Management, LP, to complete the sale to the buyer, Linchris Capital Partners, LLC. JLL also represented Linchris Capital Partners, LLC to arrange the fixed-rate acquisition loan through the lender.  
 
The hotel was offered fully unencumbered of brand and management. Reportedly the only beachfront hotel between New York City and The Hamptons, the Allegria offers one of the only beachfront food and beverage operations in Long Beach. 
 
The JLL Hotels & Hospitality team representing the seller was led by senior managing director Jeffrey Davis, EVP KC Patel, associate Nikhil Chuchra and analyst Desmund Delaney. Financing was led by managing director Greg Labine and senior director Martha Nay.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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