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Queensgate Investments Modifies $147.2M Loan For Kips Bay Hotel
FINANCED
$147,200,000
New York
See Similar DealsHotel163,311 SF
Financed 11/06/2023
FINANCED
Queensgate Investments Modifies $147.2M Loan For Kips Bay Hotel
135 East 23rd Street
See Similar DealsHotel163,311 SF
Financed 11/06/2023
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$901
Total Square Footage:163,311 SF
Transaction Type:Loan
A 26-unit hotel building located at 135 East 23rd Street in Kips Bay, Manhattan has undergone a loan modification agreement. Queensgate Investments, represented by 23 Lexington Associates LLC, has secured a $147.2 million loan from Trimont, a loan servicer.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $147,200,000
- Market: Kips Bay, Manhattan
- Square Footage: 163,311
- Units: 26
Queensgate Investments, through their representative 23 Lexington Associates LLC, has entered into a loan modification agreement with Trimont for a hotel property located at 135 East 23rd Street in Kips Bay, Manhattan. The loan amount is $147.2 million.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$147,200,000.00
Monthly NOI$981,333.33
Monthly Debt Service$930,404.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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