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
About this deal
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.
The hotel loan at 5801 Read Blvd in New Orleans, Louisiana financed for $6M in 2022. The building is 65,184 square feet, implying about 92 per square foot on the published price. Named participants on the 5801 Read Blvd loan are Michael J. Gefter. This page is the New Orleans, Louisiana file for the 5801 Read Blvd hotel financed: pricing, party profiles, and other closed hotel comps from the same New Orleans sit in the Market section below. Filter that New Orleans hotel set by closing date to see what else financed near 5801 Read Blvd around 2022. Published consideration for 5801 Read Blvd is $6M, dated 2022. Cite this Michael J. Gefter Obtains $6,000,000 Loan For Hotel At 5801 Read Blvd In New Orleans loan when underwriting similar hotel product around New Orleans, Louisiana.
On the Map
$6,000,000
$92/SF
Hotel
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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