CORPORATE
Moinian Group Sells New York Property Near LaGuardia Airport
CoStar | JAN 5, 2023
CORPORATE
Moinian Group Sells New York Property Near LaGuardia Airport
CoStar | JAN 5, 2023
The Moinian Group, which bills itself as one of the largest privately held real estate investment companies in the world, has sold a property near New York’s LaGuardia Airport in Queens for $50 million.
The 106,920-square-foot property includes an existing 217-key hotel and 80,608 buildable square feet of adjacent land with approved plans in place for a residential development, brokerage firm Ripco, which represented Moinian, said Wednesday in a statement, adding that Moinian required a buyer to acquire both sites.
Investment firm Bayrock Capital and an entity tied to it bought the property last week. Moinian had acquired the property for nearly $37.4 million in 2016, according to CoStar records.
The property is also nearby Mets’ Citi Field Stadium and the proposed site for New York’s first professional soccer-specific stadium as part of a megadevelopment.