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Maxim Capital Group Provides $17 Million Bridge Loan For 120 West 57th Street Hotel In Midtown Manhattan

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FINANCED
$17,000,000
Tyler Dumon
Max Ralby

New York

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Hotel128,433 SF
Financed 07/22/2024
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FINANCED

Maxim Capital Group Provides $17 Million Bridge Loan For 120 West 57th Street Hotel In Midtown Manhattan

120 West 57th Street

See Similar Deals
Hotel128,433 SF
Financed 07/22/2024
Tyler Dumon
Max Ralby
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$132
Total Square Footage:128,433 SF
Transaction Type:Loan

The property involved in the transaction is a hotel located at 120 West 57th Street in Midtown Manhattan. The hotel has a total square footage of 128,433 and comprises 243 keys, with a loan amount of $17,000,000 secured through a bridge loan.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $17,000,000
  • Address: 120 West 57th Street
  • Market: Midtown Manhattan
  • Square Footage: 128,433
  • Keys: 243
  • Lender: Maxim Capital Group
  • Landlord: Arden Group
  • Brokers: Max Ralby & Tyler Dumon - Newmark
  • Loan Type: Bridge

The key individuals involved in this transaction include representatives from Maxim Capital Group: Josh Greene, Adam Glick, and Joey Dinetz. The brokerage team from Newmark includes Max Ralby and Tyler Dumon, who facilitated the deal for Arden Group, the landlord of the property.

Players

Max Ralby
Newmark
Max Ralby
74 deals$3.8B volume
BROKER
Tyler Dumon
Newmark
Tyler Dumon
22 deals$3.7B volume
BROKER
Maxim Capital Group
Maxim Capital Group
LENDER

Details

FINANCED
IMAGE: Josh Greene, Max Ralby, Adam Glick, Tyler Dumon & Joey Dinetz DATE: 07/22/2024 ADDRESS: 120 West 57th Street MARKET: Midtown Manhattan ASSET TYPE: Hotel ~ SF: 128,433 ~ KEYS: 243 LENDER: Maxim Capital Group (@MaximCapitalGroup) - Josh Greene (@JocoGree), Adam Glick (@AdamGlick_), & Joey Dinetz (@Joey_Dinetz13) LANDLORD: Arden Group BROKERS: Max Ralby (@MaxRalby) & Tyler Dumon (@TylerwDumon) - Newmark (@Newmark) LOAN AMOUNT: $17,000,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,000,000.00

Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00