Jai Patel Secures $30M Refinance Loan For Aloft Jamaica Queens Hotel | 149-03 Archer Avenue | Metro City Bank | Hotel | Loan

Summary

Loan

NEW YORK

Hotel

140,658 sqft

The Aloft Jamaica Queens hotel, located at 149-03 Archer Avenue in Jamaica, Queens, has secured a $30 million refinance loan with Metro City Bank. The hotel, spanning 140,658 square feet, is owned by Jai Patel of PrideHospitalityGroup.

Summary of transaction details:

Property Type: Hotel
Transaction Amount: $30,000,000
Address: 149-03 Archer Avenue
Market: Jamaica, Queens
Loan Type: Refinance

Michelle Lee from Metro City Bank facilitated the loan for Jai Patel of PrideHospitalityGroup, allowing for the successful refinance of the Aloft Jamaica Queens hotel. This transaction further strengthens the partnership between Metro City Bank and PrideHospitalityGroup in the hospitality industry.

Players

All
1

Lenders
1

Metro City Bank

Details

Deal Summary

FINANCED

IMAGE: Jai Patel DATE: 12/29/2023 ADDRESS: 149-03 Archer Avenue MARKET: Jamaica, Queens ASSET TYPE: Hotel ~ SF: 140,658 LENDER: Michelle Lee - Metro City Bank LANDLORD: Jai Patel - PrideHospitalityGroup LOAN AMOUNT: $30,000,000 LOAN TYPE: Refinance NOTE: Jai Patel of PrideHospitalityGroup secured a $30 million refinance loan with Metro City Bank for the Aloft Jamaica Queens hotel at 149-03 Archer Avenue in Jamaica, Queens.

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Address149-03 Archer Avenue

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