FINANCEDHotel
Cronheim Hotel Capital Secures $120M Refinance Loan For Lam Generation's Chelsea Hotel
112 West 25th Street
$120,000,000
$643/SF
Building Size
186,360 SF
Asset Type
Hotel
Closing
Oct 16, 2023
AI
A hotel located at 112 West 25th Street in Chelsea, Manhattan, was recently involved in a loan transaction. The property spans approximately 186,360 square feet and belongs to Lam Generation.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $120,000,000
- Loan Type: Refinance
The loan was facilitated by Beau Williams, who represents Cronheim Hotel Capital. The loan amount was $120,000,000 and it was used for the purpose of refinancing.
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93