New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + Outer  + Hospitality  | 

Bayrock Capital Buys LIC Holiday Inn for $77M 

Bayrock Capital, a private investment firm based in Valley Stream, LI, has acquired a Holiday Inn hotel in Long Island City for $76.5 million from the McSam Hotel Group. 

The 381-room hotel spans 114,000 square feet with amenities such as a business center, 24-hour fitness center, and a snack market. Bayrock Capital plans to invest further in the hospitality sector in the coming months.  

The acquisition was financed through an all-cash private debt fund deal. The off-market deal, facilitated by Jake Blatter of KFIR Capital, was priced at approximately $671 per square foot.  


Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.