Goldman Sachs Provides $116M Refinance Loan For 19 West 38th Street Hotel In Grand Central
19 West 38th Street, New York City, New York 10018, United States
$116,040,280
$868/SF
Building Size
133,564 SF
Asset Type
Hotel
Closing
Aug 23, 2022
About this deal
AI
Located at 19 West 38th Street in the Grand Central market, this hotel property has recently undergone a refinance transaction. Spanning 133,564 square feet, the hotel is owned by Fortuna Realty Group, represented by Morris Moinian, and Kalimian Equities, represented by Morad Kalimian.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $116,040,280
- Lender: Goldman Sachs
- Landlord: Fortuna Realty Group (Morris Moinian), Kalimian Equities (Morad Kalimian)
In this refinance deal, the main lender is Goldman Sachs. The hotel property is jointly owned by Fortuna Realty Group and Kalimian Equities, who were represented by their respective representatives, Morris Moinian and Morad Kalimian.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93