Allegria Hotel Sold For $27.4 Million at Bankruptcy Auction

The Allegria Hotel, which filed for bankruptcy last year, has been sold for $27.4 million at an auction on Tuesday.

The Long Beach property was auctioned off at a bankruptcy auction held by Maltz Auctions, based in Central Islip.

The 143-room oceanfront hotel was sold to a mortgage lender, Stabilis Fund IV LP, based in Manhattan according to a report in Newsday.

A sale hearing will be held before a federal bankruptcy judge on Tuesday, July 26 starting at 10:30 a.m. at the United States Bankruptcy Court Southern District of New York.

Despite the fact that the 124,405 square foot hotel filed for bankruptcy last July, it remained open for guests and events.

In 2011, the hotel owner Allen Rosenberg filed for Chapter 11 protection but successfully exited bankruptcy in 2012 after a bankruptcy judge approved a plan to reorganize the finances, according to a previous Patch article.

Photo: Patch File Photo