FINANCEDHotel
Michael J. Gefter Secures $6 Million Loan For Hotel On Read Blvd In New Orleans
5801 Read Blvd
$6,000,000
$92/SF
Building Size
65,184 SF
Asset Type
Hotel
Closing
Mar 15, 2022
AI
The property involved in this transaction is a hotel located at 5801 Read Blvd in New Orleans. The loan amount for this transaction is $6,000,000.00.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $6,000,000.00
- Address: 5801 Read Blvd
- Market: New Orleans
- Brokers: Michael J. Gefter
The broker representative for this deal is Michael J. Gefter, who facilitated the loan transaction for the hotel property located in New Orleans.
Players
New Orleans 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93