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Z NYC Hotel Sells For $43M, New Owners to Possibly Bring Retail on Ground Floor

Z NYC Hotel at 11-01 43rd Ave. (Google Maps)

August 2, 2018 By Nathaly Pesantez

The Z NYC Hotel located a block from the Queensboro Bridge has been sold to new owners for $43 million.

The 11-story hotel at 11-01 43rd Ave. was recently purchased by Merchants Hospitality, according to the New York Post.

The new owners have plans to slightly change up the property, with the garage portion of the hotel on the ground floor being redeveloped to retail use, possibly including galleries, a spa, or a co-working space.

The garage will be repositioned into another site within the lot, with Merchants Hospitality also having the option of adding value to the property by potentially building out more rooms within the empty land on site.

The hotel, with all its 100 rooms facing the East River, was previously owned by the late Henry Zilberman, who built up a large taxi and limousine company before setting up the Z NYC Hotel, the Post wrote.

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