Dime Community Bank Provides $24.9M Refinance Loan For NoMad Hotel On East 30th Street
16-18 East 30th Street, New York City, New York 10016, United States
$24,895,000
$488/SF
Building Size
50,997 SF
Asset Type
Hotel
Closing
Aug 10, 2022
AI
The property involved in this closed transaction is a hotel located at 16-18 East 30th Street in the NoMad market. The hotel spans approximately 50,997 square feet. The loan transaction took place on August 11, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $24,895,000
- Address: 16-18 East 30th Street
- Market: NoMad
- Lender: Dime Community Bank
- Landlord: Jasmin Patel
- Loan Type: Refinance
Dime Community Bank provided the loan amount of $24,895,000 for the refinancing of the hotel property at 16-18 East 30th Street. Jasmin Patel serves as the landlord in this transaction.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93