Daniel Brodsky's Brodsky Organization Refinances Hotel At 180 10th Avenue In Chelsea With $24M Loan From Western Alliance Bank
180 10th Avenue, Manhattan, New York, NY, USA
$24,000,000
$708/SF
Building Size
33,879 SF
Asset Type
Hotel
Closing
Sep 2, 2021
About this deal
AI
The Highline Hotel in Chelsea has recently secured a refinancing loan of $24 million. The hotel, located at 180 10th Avenue, also known as @TheHighlineHotelNYC, is owned by Daniel Brodsky of the Brodsky Organization. The property, spanning an impressive 33,879 square feet, is a notable asset in the vibrant Chelsea market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $24,000,000
- Address: 180 10th Avenue AKA @TheHighlineHotelNYC
- Market: Chelsea
- Square Footage: 33,879
The lender for this refinancing loan is Western Alliance Bank, providing the essential financial support for this deal. It is worth noting that Daniel Brodsky, representing the Brodsky Organization, serves as the landlord for this property. This successful refinancing transaction illustrates the continued investment and growth in the Chelsea hotel market.
On the Map
$24,000,000
$708/SF
Hotel
View full map
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Visit Daniel Brodsky to view all their deals.
Browse New York hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93