Robert A. Indeglia Of Magna Hospitality Group Secures $150M Refinance Loan For Chelsea Hotel
140 West 24th Street & 146 West 24th Street
$150,000,000
$434/SF
Building Size
172,767 SF
Asset Type
Hotel
Closing
Dec 8, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 140-146 West 24th Street in Chelsea, Manhattan. The property encompasses a total square footage of 172,767. The refinancing arrangement pertains to a loan amount of $150,000,000, replacing the previous debt of $101.5 million held by Apollo.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $150,000,000
- Loan Type: Refinance
- Lender: Aareal Capital Corporation
- Landlord: Robert A. Indeglia - Magna Hospitality Group
Robert A. Indeglia, representing Magna Hospitality Group, is the key individual involved in this refinancing deal. Aareal Capital Corporation serves as the lender providing the mortgage for the Chelsea hotel.
On the Map
$150,000,000
$434/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93