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29-11 39Th Ave Long Island City, NY 11101

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62-room hotel in Long Island City, New York City.

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Listing Contact
Joseph Cuomo
Source: Alchemyrea

Listing Agent: Joseph Cuomo

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Overview

Hotel Vetiver Long Island City

The lender-owned Hotel Vetiver, a 62-room property in Long Island City, New York City, is available for purchase. The property was transferred to special servicing in May 2020 and foreclosed in October 2025. Offered without debt or management encumbrances, the hotel presents a value-add opportunity to reposition the asset. Currently closed, the property offers flexibility for continued hotel use or alternative use conversion. Several upscale franchise brands have expressed interest in affiliation for continued hotel use. The property is also well-suited for residential or alternative use conversion, supported by high New York City apartment rents. Located in a high-growth commercial corridor, Long Island City is experiencing unprecedented population growth. Planning and city official review are underway for the OneLIC Neighborhood Plan, a rezoning initiative designed to stimulate large-scale residential and commercial development. This includes approximately 15,000 new homes, 3.5 million square feet of commercial space, and over 14,000 jobs. Planning is also underway for the Queens Willets Point mixed-use development, which will include residential and commercial projects, in addition to the 25,000-seat NYCFC Soccer Stadium. Willet Point / Metropolitan Park has advanced as a finalized site for one of the three New York City Casino licenses. New York City anticipates welcoming upwards of 64 million visitors in 2025.
Location Intelligence

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City
Long Island City
County
Queens
State
New York
Longitude
-73.939396
Latitude
40.756404

FAQs

What type of property is this?
Hotel - 62-room hotel in Long Island City, New York City.
Where is this hotel located?
The property is located at 29-11 39Th Ave Long Island City, NY.
What are key features of this property?
This property features: - Significant value-add opportunity: acquire a 62-room hotel at a substantial discount.; - Offered unencumbered of debt and management, providing flexibility for repositioning.; - Strong potential for residential or alternative use conversion due to high apartment rents.
More about this property
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