Chartwell Hospitality Secures $100M Refinance Loan From Citi Bank For JFK Airport Hotel
135 25 142nd Street
$100,000,000
$622/SF
Building Size
160,553 SF
Asset Type
Hotel
Closing
Apr 15, 2025
About this deal
AI
The property asset involved is a hotel located at 135-25 142nd Street in the JFK Airport market. It has a total square footage of 160,553 and consists of 360 keys. The transaction involves a loan amount of $100,000,000, which is a refinance type.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $100,000,000
- Loan Type: Refinance
- Lender: Citi Bank
- Landlord: Chartwell Hospitality
- Landlord's Representative: James Murad & Adam Hakim - Ripco
Key individuals in this transaction include Joe Dyckman, Adam Hakim, James Murad, and Gabe Podair. They represent various interests associated with the deal, highlighting the collaborative nature of the transaction.
Players
Jamaica 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93