Updated Jul 31, 2026
$2,300,000 Loan Secured For Hotel At 269 Flanders Rd In Niantic By Michael J. Gefter
269 Flanders Rd
$2,300,000
$51/SF
Building Size
44,716 SF
Asset Type
Hotel
Closing
Feb 13, 2024
About this deal
AI
The property involved in this transaction is a hotel located at 269 Flanders Rd in Niantic. The loan associated with this asset amounts to $2,300,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $2,300,000.00
- Address: 269 Flanders Rd
- Market: Niantic
- Broker: Michael J. Gefter
This transaction involves Michael J. Gefter representing the deal, facilitating the loan arrangement for the hotel asset. No landlord is associated with this transaction.
The hotel loan at 269 Flanders Rd in Niantic, Connecticut financed for $2.3M in 2024. The building is 44,716 square feet, implying about 51 per square foot on the published price. Named participants on the 269 Flanders Rd loan are Michael J. Gefter, A.K.. This page is the Niantic, Connecticut file for the 269 Flanders Rd hotel financed: pricing, party profiles, and other closed hotel comps from the same Niantic sit in the Market section below. Filter that Niantic hotel set by closing date to see what else financed near 269 Flanders Rd around 2024. Published consideration for 269 Flanders Rd is $2.3M, dated 2024. Cite this $2,300,000 Loan Secured For Hotel At 269 Flanders Rd In Niantic By Michael J. Gefter loan when underwriting similar hotel product around Niantic, Connecticut.
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Niantic Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93