Sonder USA Leases Hotel In Gowanus, Brooklyn From Red Pine Capital Partners
645-651 Union Street, Brooklyn, NY, USA
Building Size
25,000 SF
Asset Type
Hotel
Closing
Jun 1, 2020
About this deal
AI
The recently closed property transaction in Gowanus, Brooklyn involved a hotel located at 645-651 Union Street. The asset encompasses approximately 25,000 square feet and is situated in the vibrant Gowanus market.
Summary of transaction details
- Property Type: Hotel
- Transaction Date: 06/01/2021
- Landlord: Red Pine Capital Partners - Michael K. Federman
- Tenant: Sonder USA - Brooks Crowley & Francis Davidson
- Broker: Robin Scott - Cayuga Management
- Asking Rent: $70/ft.
The esteemed individuals involved in this deal include Brooks Crowley and Francis Davidson representing Sonder USA as the tenant. The landlord, Red Pine Capital Partners, is represented by Michael K. Federman. The transaction was facilitated by Robin Scott of Cayuga Management as the broker.
On the Map
Hotel
View full map
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Lease transactions
Loading comparables…
Deal FAQ
Browse New York hotel leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93