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Capstone Equities Secures $18.35M Refinance Loan For Life Hotel In NoMad

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FINANCED
$18,350,000
Anthony D’Amelio
Adam Glick
+ 1

New York

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Hotel
Financed 04/12/2024
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FINANCED

Capstone Equities Secures $18.35M Refinance Loan For Life Hotel In NoMad

19 West 31st Street

See Similar Deals
Hotel
Financed 04/12/2024
Anthony D’Amelio
Adam Glick
+ 1
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Summary

NEW YORK
Asset Type:Hotel
Transaction Type:Loan

The asset involved in the transaction is the Life Hotel located at 19 West 31st Street in the NoMad market. The property was refinanced for a loan amount of $18,350,000 by lenders Jason Bordenick and Adam Glick from Maxim Capital Group. The landlords, Joshua Zamir and Justin Adelipour from Capstone Equities, oversaw the deal. The brokers representing the transaction were Robert Verrone and Anthony D'amelio from Iron Hound Management Company.

Summary of transaction details:

The key individuals and companies behind this deal include Jason Bordenick and Adam Glick from Maxim Capital Group as the lenders, and Joshua Zamir and Justin Adelipour from Capstone Equities as the landlords. Robert Verrone and Anthony D'amelio from Iron Hound Management Company acted as the brokers facilitating the transaction.

Players

Robert Verrone
31 deals$5.9B volume
BROKER

Anthony D’Amelio
Iron Hound Management Company
12 deals$1.6B volume
BROKER

Adam Glick
Maxim Capital Group
27 deals$1B volume
LENDER

Jason Bordenick
Maxim Capital Group
12 deals$418.2M volume
LENDER

Maxim Capital Group
LENDER

Details

FINANCED
IMAGE: Robert Verrone, Jason Bordenick, Joshua Zamir, Adam Glick & Anthony D'amelio DATE: 04/12/2024 ADDRESS: 19 West 31st Street MARKET: NoMad ASSET TYPE: Life Hotel LENDER: Jason Bordenick & Adam Glick (@AdamGlick_) - Maxim Capital Group (@MaximCapitalGroup) LANDLORD: Joshua Zamir & Justin Adelipour - Capstone Equities BROKERS: Robert Verrone & Anthony D'amelio - Iron Hound Management Company (@Ironhound.Mgmt) LOAN AMOUNT: $18,350,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,350,000.00

Monthly NOI$122,333.33
Monthly Debt Service$115,984.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00