W&L Group Secures $14.9 Million Refinancing Loan For Hotel At 11 West 37th Street
11 West 37th Street
$14,900,000
$531/SF
Building Size
28,059 SF
Asset Type
Hotel
Closing
Mar 4, 2025
About this deal
AI
The property asset involved in this transaction is a hotel located at 11 West 37th Street in the Grand Central area of Manhattan. This hotel has a square footage of 28,059 and has recently secured a refinance loan.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $14,900,000
- Lender: CTBC Bank
- Landlord: W&L Group
- Loan Type: Refinance
The deal was facilitated by W&L Group, which secured the refinancing loan from CTBC Bank, thereby enhancing its financial position related to the hotel property in Manhattan.
On the Map
$14,900,000
$531/SF
Hotel
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Players
New York 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93