Manoj Chawla Of Oceanic Enterprises Acquires Tilden Hotel From Seth Bernstein For $9.3M

The Tilden Hotel, a 118-room property situated at 345 Taylor Street in San Francisco, has been acquired for $9,300,000. The sale reflects a significant decline from its previous sale price of $48.5 million in 2015. The hotel, which is currently shuttered, falls within the San Francisco market and has a price per key of $78,814.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $9,300,000
• Buyer: Manoj Chawla - Oceanic Enterprises
• Seller: Seth Bernstein - AllianceBernstein
• Keys: 118
• PPK: $78,814
• Financing: $8,000,000 loan from Hankey Capital

In this transaction, Manoj Chawla represented Oceanic Enterprises while Seth Bernstein represented AllianceBernstein. The property was sold following AllianceBernstein's acquisition through a deed-in-lieu of foreclosure.