Shanghai Commercial Bank Provides $85M Loan For Maiden Lane Hotel In FiDi
FINANCED
$85,000,000
New York
See Similar DealsHotel110,315 SF
Financed 02/19/2019
FINANCED
Shanghai Commercial Bank Provides $85M Loan For Maiden Lane Hotel In FiDi
151 Maiden Lane, New York, NY 10038, USA
See Similar DealsHotel110,315 SF
Financed 02/19/2019
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$770
Total Square Footage:110,315 SF
Transaction Type:Loan
Shanghai Commercial Bank has provided a loan of $85,000,000 for a hotel located at 151 Maiden Lane in the Financial District (FiDi) market. The property is owned by Richard Lou of LCRE Group. The deal was facilitated by brokers Dustin Stolly and Jordan Roeschlaub from Newmark Knight Frank.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $85,000,000
- Date: 02/19/2019
- Address: 151 Maiden Lane
- Market: FiDi
The loan provided by Shanghai Commercial Bank represents a significant financial commitment for the hotel property. Richard Lou, the landlord and owner of LCRE Group, played a key role in the deal. The transaction was facilitated by brokers Dustin Stolly and Jordan Roeschlaub from Newmark Knight Frank, who worked in representing the parties involved.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$85,000,000.00
Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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