Daniel Brodsky's Brodsky Organization Refinances Hotel At 180 10th Avenue In Chelsea With $24M Loan From Western Alliance Bank
FINANCED
$24,000,000
New York
See Similar DealsHotel33,879 SF
Financed 09/03/2021
FINANCED
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
See Similar DealsHotel33,879 SF
Financed 09/03/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$708
Total Square Footage:33,879 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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