Meridian Capital Group Refinances New York Hotel For $44.5M
FINANCED
$44,500,000
+ 1
National
See Similar DealsHotel100,678 SF
Financed 02/28/2023
FINANCED
Meridian Capital Group Refinances New York Hotel For $44.5M
59 W. 46th Street / 56-60 W. 47th Street
See Similar DealsHotel100,678 SF
Financed 02/28/2023
+ 1
Summary
Asset Type:Hotel
Price Per Square Foot:$442
Total Square Footage:100,678 SF
Transaction Type:Loan
The recently closed transaction involved a hotel property located at 59 W. 46th Street & 56-60 W. 47th Street in New York. The hotel spans an area of approximately 100,678 square feet. The transaction was facilitated by Morris Betesh, Justin Boruchov, and Morris Dabbah of Meridian Capital Group.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $44,500,000
- Loan Type: Refinance
The deal was financed through a refinancing loan of $44,500,000. The loan allowed the property owner to restructure their existing debt.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,500,000.00
Monthly NOI$296,666.67
Monthly Debt Service$281,270.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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