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Robert Indeglia Of Magna Hospitality Group Secures $88.5M Refinance Loan For Hotel In Midtown West
FINANCED
$88,500,000
New York
See Similar DealsHotel100,104 SF
Financed 12/17/2025
FINANCED
Robert Indeglia Of Magna Hospitality Group Secures $88.5M Refinance Loan For Hotel In Midtown West
150 West 48th Street
See Similar DealsHotel100,104 SF
Financed 12/17/2025
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$884
Total Square Footage:100,104 SF
Transaction Type:Loan
The asset involved in the transaction is a hotel located at 150 West 48th Street in the Midtown West market of Manhattan, encompassing a total square footage of 100,104. The property was refinanced with a loan amount of $88,500,000 from Wells Fargo.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $88,500,000
- Lender: Wells Fargo
- Landlord: Robert Indeglia - Magna Hospitality Group
- Previous Debt: $83,500,000 from JPMorgan Chase
- Transaction Date: 12/17/2025
The refinancing was executed by Magna Hospitality Group through its subsidiary, NY 48 LLC, marking a significant shift in the property's financing structure as it moved from JPMorgan Chase to Wells Fargo.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$88,500,000.00
Monthly NOI$590,000.00
Monthly Debt Service$559,380.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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