The Z NYC Hotel in Long Island City has been sold to Merchants Hospitality for $43 million.

The 7-year-old hotel at 11-01 43rd Ave. was developed in 2011 by former taxi magnate Henry Zilberman. He died in March 2014, and Merchants purchased the hotel from the estate.

The pricing was not just for the hotel but also included additional land behind the hotel that Merchants can use to add value through another building with 109 apartments.

Zilberman had previously purchased a warehouse and assembled the land for use by his taxi fleet. As LIC became a destination, Zilberman hired Andres Escobar to design the modern hotel, which has been managed by Rock Star Hospitality. It’s since become a hip destination with its 5,000-square-foot roof bar and 100 rooms that all face the East River and Manhattan skyline.

To add even more value, Merchants will reposition and redevelop the garage into retail and similar uses, including galleries and a spa – or even a co-working space.

The asking rent for the retail is $39 per square foot, and with 16,000 square feet at grade and 9,300 square feet on the lower level, divisions of 12,000 square feet or 18,000 square feet are possible.

Tenants will also have the use of the roof deck for events while the side of the building can be used for a large sign.

Despite many new hotels and competition in the city, there are still fewer rooms in areas like Long Island City. With its guaranteed skyline view, Z NYC gets $165 per night for its premium rooms through Labor Day.