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JP Morgan Provides $164M Refinance Loan For The Goodtime Hotel In Miami Beach

Property Image
FINANCED
$164,000,000
Keith Kurland
Adam Schwartz
Aaron Appel
+ 1

Florida

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Hotel218,000 SF
Financed 09/29/2021
the dealplayerscompscontact
Property Image
FINANCED

JP Morgan Provides $164M Refinance Loan For The Goodtime Hotel In Miami Beach

601 Washington Avenue, Miami Beach, FL 33139

See Similar Deals
Hotel218,000 SF
Financed 09/29/2021
Keith Kurland
Adam Schwartz
Aaron Appel
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$752
Total Square Footage:218,000 SF
Transaction Type:Loan

The Good Time Hotel, located at 601 Washington Ave in Miami Beach, has recently undergone a loan refinancing transaction. The hotel, with a total area of 218,000 square feet and 266 rooms, is owned by Dreamscape Companies, represented by Eric Birnbaum. The loan, provided by JP Morgan and represented by Aaron Casden, amounts to $164,000,000.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $164,000,000
  • Address: 601 Washington Ave, Miami Beach
  • Square Footage: 218,000
  • Number of Rooms: 266

The loan refinancing was facilitated by brokers Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz from Walker & Dunlop. The involvement of these individuals showcases their expertise and experience in the real estate market.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
190 deals$31.9B volume
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
165 deals$26.9B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
170 deals$29.1B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
160 deals$25.4B volume(646) 491-8869
BROKER
DC
Dreamscape Companies
LANDLORD

Details

FINANCED
IMAGE: Keith Kurland, Adam Schwartz, Aaron Appel, Pharell, David Grutman, Jonathan Schwartz, Eric Birnbaum & Aaron Casden DATE: 09/2021 ADDRESS: 601 Washington Ave. AKA @TheGoodTimeHotel 🥳 🏨 🕺🏽 💃🏻 MARKET: Miami Beach ASSET TYPE: Hotel ~ SF: 218,000 ~ KEYS: 266 LENDER: JP Morgan - Aaron Casden LANDLORD: Dreamscape Companies - Eric Birnbaum BROKERS: Aaron Appel, Keith Kurland, Jonathan Schwartz & Adam Schwartz - Walker & Dunlop LOAN AMOUNT: $164,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$164,000,000.00

Monthly NOI$1,093,333.33
Monthly Debt Service$1,036,591.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00