Electra America Hospitality Group Secures $15M Construction Loan For Hotel At 131 Madison Avenue
131 Madison Avenue
$15,000,000
$153,061/SF
Building Size
98 SF
Asset Type
Hotel
Closing
Sep 28, 2022
AI
The property involved in the transaction is a hotel located at 131 Madison Avenue in the Park Avenue South area of Manhattan. The hotel has a total area of 98,234 square feet and consists of 5 units. The transaction took place on September 28, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $15,000,000
- Address: 131 Madison Avenue
- Market: Park Avenue South, Manhattan
- Square Footage: 98,234
- Number of Units: 5
The lender involved in the transaction is Maxim Credit Group. The landlord is Electra America Hospitality Group represented by Russell D. Urban.
The loan amount for this transaction was $15,000,000, and it was a construction loan.
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