Electra America Hospitality Group Secures $15M Construction Loan For Hotel At 131 Madison Avenue
FINANCED
$15,000,000
New York
See Similar DealsHotel98 SF
Financed 09/28/2022
FINANCED
Electra America Hospitality Group Secures $15M Construction Loan For Hotel At 131 Madison Avenue
131 Madison Avenue
See Similar DealsHotel98 SF
Financed 09/28/2022
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$153,061
Total Square Footage:98 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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