NWPH Leases 2000 Square Feet At The New York Palace With Landlord's Rep David Park
The New York Palace, New York, NY, 1...
Building Size
2,000 SF
Asset Type
Hotel
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at The New York Palace, New York, NY. It encompasses a total area of 2000 square feet. The transaction occurs within the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: The New York Palace, New York, NY
- Market: New York
- Landlord: NWPH
- Landlord's Representative: David Park - MTY Group Inc.
- Square Feet: 2000
The key individuals involved in the deal include David Park, representing the landlord NWPH through MTY Group Inc., facilitating the leasing arrangements for the property at The New York Palace.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Lease transactions
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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