Shanghai Commercial Bank Provides $85M Loan For Maiden Lane Hotel In FiDi
151 Maiden Lane, New York, NY 10038, USA
$85,000,000
$770/SF
Building Size
110,315 SF
Asset Type
Hotel
Closing
Feb 18, 2019
About this deal
AI
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.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Visit Dustin Stolly to view all their deals.
Browse New York hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93