Developer Teddy Li has recently secured financial backing from Madison Realty Capital to complete a new 240-key Staybridge Suites hotel in Long Island City. The 24 story project at 38-59 11th St. occupies approximately 183,000 sq. ft.
The Real Deal reports the package reached $46 million. Gene Kaufman Architect designed the building, which is more than 50 percent complete.
