FINANCEDHotel
MRR Development LLC Secures $135 Million Refinance Loan For Hotel & Development Land In Miami
171 Ludlow Street
$135,000,000
Building Size
—
Asset Type
Hotel
Closing
May 27, 2026
About this deal
AI
The transaction involves hotel and development land located at 171 Ludlow Street in the Lower East Side market. The loan amount for this refinance transaction is $135,000,000.
Summary of transaction details:
- Property Type: Hotel & Development Land
- Transaction Amount: $135,000,000
- Lender: Tel-Aviv Stock Exchange Ltd. (TASE.TA)
- Landlord: MRR Development LLC - Anand Mahindra & Rotem Rosen
- Broker: Discount Capital LTD. - Mr. Liran Razmovich
- Transaction Date: 5/28/2026
Anand Mahindra and Rotem Rosen represent the landlord, MRR Development LLC, in this transaction. The deal was brokered by Mr. Liran Razmovich from Discount Capital LTD.
On the Map
$135,000,000
Hotel
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Players
New York Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93