Real Estate

Midtown Properties building 133-key LIC extended-stay hotel

therealdeal.comFew areas have felt the impact of the current outer-borough hotel development boom as significantly as Long Island City, where the neighborhood’s proximity to Midtown Manhattan – and the widely-reported emergence of Queens as a tourist destination – has prompted a wave of new projects.

Developer Midtown Properties, led by brothers Ian and Robert Cheng, is the latest to get in on the action with a new 10-story, 133-room hotel at 38-42 11th Street in Long Island City.

In a cluttered hotel market that some observers have suggested is verging on oversupply, Midtown Properties is taking a different approach with its project – an extended-stay hotel carrying Marriott’s TownePlace Suites flag.

Categories: Real Estate

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