Noble House Hotels & Resorts Secures $84.4M Loan For Key West Hotel With Elliot Eichner - Sonnenblick-Eichner Co
0 Duval Street, Key West, Florida 33040, United States
$84,430,000
Building Size
—
Asset Type
Hotel
Closing
Sep 13, 2022
AI
The hotel located at 0 Duval Street in Key West has recently undergone a closed property transaction. The asset is a hotel with a total of 100 rooms, owned by Noble House Hotels & Resorts.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $84,430,000
- Address: 0 Duval Street
- Market: Key West
- Number of Keys: 100
The deal was facilitated by Elliot Eichner from Sonnenblick-Eichner Co., representing the buyer or seller in the transaction. The loan secured for this hotel property amounts to $84,430,000. The loan terms include a five-year term and a fixed coupon interest rate in the low 5-percent range.
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Key West Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93