Premier Hotels Acquires Times Square Hotel For $41.1M With Loan From Beau Williams & Ryan Maher

Located in the heart of Times Square, at 59 W. 46th St., a hotel property recently changed hands in an acquisition deal. With a total area of 154,000 square feet, the hotel boasts 213 keys, offering a comfortable stay for guests visiting this bustling area. Premier Hotels, the landlord, facilitated the transaction, which was brokered by Beau Williams and Ryan Maher of Cronheim Hotel Capital.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $41,125,000
• Market: Times Square
• Address: 59 W. 46th St.
• Square Feet: 154,000
• Keys: 213
• Landlord: Premier Hotels
• Brokers: Beau Williams & Ryan Maher - Cronheim Hotel Capital

The transaction involved an acquisition loan of $41,125,000. The loan, secured for the purchase of the hotel property, will support the buyer's investment in this prime location. The acquisition loan represents a significant financial commitment, underlining the attractiveness and potential of the property in Times Square.