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Robert A. Indeglia Of Magna Hospitality Group Secures $150M Refinance Loan For Chelsea Hotel
FINANCED
$150,000,000
New York
See Similar DealsHotel345,534 SF
Financed 12/08/2025
FINANCED
Robert A. Indeglia Of Magna Hospitality Group Secures $150M Refinance Loan For Chelsea Hotel
140 West 24th Street & 146 West 24th Street
See Similar DealsHotel345,534 SF
Financed 12/08/2025
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$434
Total Square Footage:345,534 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$150,000,000.00
Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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