First Abu Dhabi Bank Refinances Hotel In Financial District For $80M
170 Broadway, New York City, New York 10038, United States
$80,000,000
$605/SF
Building Size
132,104 SF
Asset Type
Hotel
Closing
Jul 27, 2022
About this deal
AI
The property involved in this transaction is a hotel located at 170 Broadway in the Financial District. The hotel has a total square footage of 132,104. The loan for this transaction was refinanced, and it was provided by First Abu Dhabi Bank. The loan amount was $80,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $80,000,000
- Address: 170 Broadway
- Market: Financial District
- Lender: First Abu Dhabi Bank - David Young & Ora Helmholz
- Landlord: Premier Group - Roger Blackall
In addition to the lender and landlord, other key individuals and companies involved in this deal include David Young and Ora Helmholz from First Abu Dhabi Bank, and Roger Blackall from Premier Group. These individuals played a crucial role in the refinancing of the hotel property at 170 Broadway.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93