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New York & Tri-State  + Outer  + Retail  | 

ABS to Reposition LIC Hotel’s Garage into Retail

ABS Partners Real Estate has been tapped by Merchants Hospitality Group to transform and market 26,600 square feet, for retail or co-working use, that formerly housed a parking facility at ground level of Long Island City’s Z NYC Hotel. The New York Post reported last week that Merchants Hospitality paid $43 million to acquire the 100-key property from the estate of Harry Zilberman.

“Long Island City is really finding its identity, as commercial real estate continues to shape the economic landscape,” said ABS partner John Brod. “With several thousand residential units under construction and a growing restaurant and shopping scene, the demand for retail space is on the rise.”

Brod added that LIC is emerging as a hub for tech and life sciences jobs, “as this submarket continues to see initiatives designed to attract talent to the area” while raising its profile as a center of economic development in the region.

For comments, questions or concerns, please contact Paul Bubny

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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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