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460 Route 33 E

Michael J. Gefter Secures $6,069,375 Loan For Hotel In Hightstown
FINANCEDHotel

Michael J. Gefter Secures $6,069,375 Loan For Hotel In Hightstown

460 Route 33 E

$6,069,375

$149/SF

Building Size

40,524 SF

Asset Type

Hotel

Closing

Nov 20, 2023

AI

The property involved in this transaction is a hotel located at 460 Route 33 E in Hightstown. The loan amount secured for this property is $6,069,375.00.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $6,069,375.00
  • Address: 460 Route 33 E
  • Market: Hightstown
  • Loan Date: 11/20/2023
  • Broker: Michael J. Gefter

The deal was facilitated by broker Michael J. Gefter, representing the interests of the parties involved in this hotel loan transaction. No landlord is specified in relation to this property deal.

Players

Michael J. Gefter

Wolf Investment Partners

Broker

$282.5M

vol

66 deals

Broker
Wolf Investment Partners
Wolf Investment PartnersBrokerage
BOK Financial
BOK FinancialLender

A.K.

Landlord
Landlord

Hightstown 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

2.61%

Cash-on-Cash

-0.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93