Updated Jul 3, 2025
Manoj Chawla Of Oceanic Enterprises Acquires Tilden Hotel From Seth Bernstein For $9.3M
345 Taylor Street
$9,300,000
Building Size
—
Asset Type
Hotel
Closing
Jul 2, 2025
About this deal
AI
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.
On the Map
$9,300,000
Hotel
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San Francisco Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93