FINANCEDHotel
Michael J. Gefter Obtains $6,000,000 Loan For Hotel At 5801 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 transaction involves a hotel asset located at 5801 Read Blvd in New Orleans. The loan amount secured for this property stands at $6,000,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $6,000,000.00
Michael J. Gefter serves as the broker representing the transaction. The specifics regarding the landlord have not been disclosed.
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