39-11 29 Street

Owner: Paceline Equity Partners

Acquired: July 27, 2023, $34.5 million

Debt: July 27, 2023, $24.4 million

Built: 2008

SF: 63,648

Dwelling units: 0

No. of buildings: 1

Class: extended stay/suite: amenities similar to apt; typically charge weekly rates & less expensive than full-service hotel (HS)

Floors: 11

Legacy BBLs: 4003990022

HPD Ownership Registration Information

Last registered: 2025-08-23 (expires 2026-09-01)

Transactions:

• Paceline Equity Partners borrowed $24.4 million from Ponce Bank for 29-14 39th Avenue, Long Island City, Queens on July 27, 2023.

• Radson Development sold 29-14 39th Avenue, Long Island City, Queens for $34.5 million to Paceline Equity Partners on July 27, 2023.

• Radson Development borrowed $25 million from Ponce Bank for 29-14 39th Avenue, Long Island City, Queens on June 29, 2022.

Development:

• Jacob Rad filed plans for A3 in Long Island City, Queens, on March 13, 2014.

• John Gouliamas filed plans for demolition in Long Island City, Queens, on December 11, 2006.

• Joe Kim filed plans for A3 in Long Island City, Queens, on December 14, 2012.

• John Gouliamas filed plans for demolition in Long Island City, Queens, on December 11, 2006.

• Jacob Rad filed plans for alteration in Long Island City, Queens, on October 03, 2013.

Violations:

According to city public data, the properties have not received any significant violations in the last year.

Latest Stories:

• Paceline Equity Partners signs $24.4M acquisition loan with Ponce Bank for LIC hotel (July 28, 2023)

• Paceline Equity pays $34.5M to Radson Development for LIC hotel (July 28, 2023)

• Radson Development signs $25M refi with Ponce Bank for LIC hotel (June 30, 2022)