New York's Allegria Hotel bought out of bankruptcy

The Allegria Hotel in Long Beach, N.Y., has a new owner.

The hotel filed for bankruptcy in 2015, and this week was sold for $27.4 million at a bankruptcy auction held by Maltz Auctions, which is based in Central Islip, N.Y. Stabiles Fund IV, a mortgage lender based in Manhattan, bought the 143-room hotel. A sale hearing for the deal is scheduled to be held before a federal bankruptcy judge July 26 at the United States Bankruptcy Court Southern District of New York.

Though the hotel filed for bankruptcy almost exactly one year ago, it has managed to stay open to guests and even host events. Allen Rosenberg, the hotel’s previous owner, filed for chapter 11 bankruptcy protection in 2011 but was able to exit bankruptcy the following year after a bankruptcy judge accepted a plan to reorganize the financing behind the property.

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The 124,405-square-foot hotel includes the Atlantica on the Ocean restaurant and the L’Onda Lounge, and offers guest activities and amenities such as surf lessons, a fitness center, a rooftop pool and a nearby beach where the hotel hosts yoga sessions. The hotel also offers boat trips that include fishing excursions, access to the Long Beach boardwalk, special event tickets to concerts and Broadway performances in Manhattan and coordination for private cars and transportation.

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