Jonathan Martin Of AEW Capital Management Secures $50 Million Loan For H3 Hotel In Midtown East
144 East 48th Street
$50,000,000
$436/SF
Building Size
114,500 SF
Asset Type
Hotel
Closing
Apr 9, 2026
AI
The asset involved in this transaction is a hotel located at 144 East 48th Street in Midtown East, Manhattan. The property has a total square footage of 114,500 and is under the management of AEW Capital Management.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $50,000,000
- Lender: BMO Harris Bank
- Landlord: Jonathan Martin - AEW Capital Management
- Closing Date: April 9, 2026
- Recording Date: April 10, 2026
Jonathan Martin, representing AEW Capital Management through E 48th Hotel Operator LLC, facilitated the loan agreement with BMO Bank for the H3 hotel, marking a significant financial arrangement in the Midtown East market.
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93