While Queens might be the next Brooklyn, it might take a little bit more time for its hotels. Word is the owner of the recently opened Home2 Suites by Hilton Long Island City/Manhattan View, which opened in the Long Island City neighborhood of Queens, has been slapped with a notice of default on its mortgage contract, Commercial Observer reports.
The 10-story, 115-suite hotel is the Home2 Suites' 31st hotel and second one in New York State.
Jacob Rad, a member of JSDMJ LLC, the managing member of LIC Hotel Property LLC, the owner of the site, reportedly took out a $14.075 million mortgage from Taiwan-based Mega International Commercial Bank last April to help finance the acquisition.
It appears that the owner acquired the building for $3.5 million in 2007, financing it with a $2.7-million loan, according to property records.