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Arnold & Porter Kaye Scholer Refinances Chelsea Hotel With $112.5M Loan
FINANCED
$112,500,000
New York
See Similar DealsHotel217,166 SF
Financed 02/29/2024
FINANCED
Arnold & Porter Kaye Scholer Refinances Chelsea Hotel With $112.5M Loan
140 West 28th Street
See Similar DealsHotel217,166 SF
Financed 02/29/2024
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$518
Total Square Footage:217,166 SF
Transaction Type:Loan
The hotel building (H2) at 140 West 28th Street in Chelsea, Manhattan, with a total square footage of 217,166, was involved in a $112.5 million refinance loan transaction. The landlord of this asset is Gregory Weingar from Arnold & Porter Kaye Scholer.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $112,500,000
- Address: 140 West 28th Street
- Market: Chelsea, Manhattan
- Lender: Nolen Taylor - KSL Capital Partners
- Landlord: Gregory Weingar - Arnold & Porter Kaye Scholer
- Loan Type: Refinance
Arnold & Porter Kaye Scholer, represented by Ny 28th Street LLC, secured the $112.5 million refinance loan from lender KSL Capital Partners, through its entity Lipan Investments, LLC, for the hotel building at 140 West 28th Street in Chelsea, Manhattan.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$112,500,000.00
Monthly NOI$750,000.00
Monthly Debt Service$711,076.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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