Richard Lou Of Palette Hotels Refinances AC Hotel New York Downtown With Wells Fargo For $82.4M
151 Maiden Lane
$82,400,000
$589/SF
Building Size
139,891 SF
Asset Type
Hotel
Closing
Dec 15, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 151 Maiden Lane in the Financial District of Manhattan. This property spans 139,891 square feet and has undergone refinancing. The loan amount for this transaction was $82,400,000 from Wells Fargo, aimed at replacing prior debt from Shanghai Commercial Bank.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $82,400,000
- Address: 151 Maiden Lane
- Market: Financial District, Manhattan
- Lender: Wells Fargo
- Landlord: Richard Lou - Palette Hotels
- Loan Type: Refinance
Palette Hotels, along with its affiliate LCRE Group, was involved in this refinancing deal for the AC Hotel New York Downtown, taking out a significant loan from Wells Fargo to optimize their financial position regarding the property.
On the Map
$82,400,000
$589/SF
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93