MRR Development Refinances Hotel Indigo On Lower East Side With $113M Loan
FINANCED
$113,000,000
New York
See Similar DealsHotel
Financed 02/23/2022
FINANCED
MRR Development Refinances Hotel Indigo On Lower East Side With $113M Loan
171 Ludlow Street, New York City, New York 10002, United States
See Similar DealsHotel
Financed 02/23/2022
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The property involved in this transaction is a hotel located at 171 Ludlow St in the Lower East Side market. The loan obtained for this property is a refinance loan with an amount of $113,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $113,000,000
- Address: 171 Ludlow St
- Market: Lower East Side
MRR Development, represented by Rotem Rosen and Anand Mahindra, is the landlord of the property. The loan is being used to refinance the Hotel Indigo on Manhattan's Lower East Side and to purchase a site in Miami's Arts & Entertainment district.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$113,000,000.00
Monthly NOI$753,333.33
Monthly Debt Service$714,236.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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