Davidson Kempner Capital Management Secures $150M Loan For Hotel At 214 East 42nd Street, Grand Central, Manhattan
214 East 42nd Street
$150,000,000
$290/SF
Building Size
517,158 SF
Asset Type
Hotel
Closing
Aug 9, 2023
AI
The hotel building located at 214 East 42nd Street in Grand Central, Manhattan, has secured a $150 million loan from Apollo Global Management. The loan transaction was facilitated by Athene Annuity And Life Company. The hotel spans a total area of 517,158 square feet.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $150,000,000
- Address: 214 East 42nd Street, Grand Central, Manhattan
- Market: Grand Central, Manhattan
- Lender: Apollo Global Management
- Landlord: Davidson Kempner Capital Management - Anthony Yoseloff & Eric Epstein
Davidson Kempner Capital Management, represented by Dk Wgc Fee Owner LLC, successfully secured the loan from Apollo Global Management for the hotel building at 214 East 42nd Street. The deal was facilitated by Athene Annuity And Life Company. Anthony Yoseloff and Eric Epstein acted as representatives for Davidson Kempner Capital Management in the transaction.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93