You are reading

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.

email the author: [email protected]

5 Comments

Click for Comments 

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

MTA seizes 19 ‘ghost’ cars registered to toll violators at Queens Midtown Tunnel on Monday

Two days before the MTA Board approved the controversial congestion pricing plan for Manhattan on Wednesday, the agency cracked down on persistent toll violators at the Queens Midtown Tunnel in Long Island City.

MTA Bridges and Tunnels seized 19 vehicles registered to persistent scofflaws on Monday and issued 81 summonses and confiscated two fraudulent incense plates. The MTA noted that the scofflaws accounted for approximately $483,000 in combined unpaid tolls and fees. One of the top persistent toll violators from the targeted enforcement owed nearly $76,000 in tolls and fees.