Rattan Chadha's CitizenM Secures $82.5M Refinance Loan From J.P. Morgan Chase For Hotel

The property asset involved in this transaction is a hotel located at 189 Bowery in the Lower East Side of Manhattan. The total square footage of the asset is 79,408. CitizenM refinanced the property with a loan amount of $82,500,000 from J.P. Morgan Chase, which matches the prior debt amount. The property was acquired in 2010 for $24.1 million. The refinancing transaction was closed on September 26, 2025, and recorded on October 1, 2025.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $82,500,000
• Lender: J.P. Morgan Chase
• Landlord: Rattan Chadha - citizenM
• Asset Address: 189 Bowery
• Market: Lower East Side, Manhattan
• Asset Size: 79,408 square feet
• Acquisition Price: $24,100,000
• Refinance Closing Date: September 26, 2025
• Refinance Recording Date: October 1, 2025

The transaction highlights Rattan Chadha, representing citizenM, as the landlord involved in the refinancing deal for the hotel. The refinancing was executed through J.P. Morgan Chase, maintaining the financial structure established during the acquisition of the property.