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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

