Meridian Capital Group Arranges $93.96M Bridge Loan For Queens Hotel
144-02 135th Avenue
$93,960,000
Building Size
—
Asset Type
Hotel
Closing
Nov 28, 2022
About this deal
AI
The hotel located at 144-02 135th Avenue in Queens has been involved in a closed transaction. The property has a total of 542 keys, making it a substantial asset in the market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $93,960,000
- Loan Type: Bridge
The deal was facilitated by Adam Hakim & James Murad, representatives from Meridian Capital Group. Their expertise in the industry played a crucial role in the successful transaction. The loan amount for this deal was $93,960,000, providing the necessary financial support for the acquisition or refinancing.
Players
New York 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93