Commercial Observer Crescent Hotel Realty has paid $18.1 million, or $247,945/room, for the 73-room Red Lion Inn & Suites hotel in the Long Island City section of Queens, N.Y. The Ardsley, N.Y., investor bought the property from Dan’s Global Hotels of Alpine, N.J. The hotel, at 42-24 Crescent St., last traded hands in 2008 for […]

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