Denihan Hospitality Group Secures $286.9M Loan For Manhattan Hotel
215 East 64th Street, Manhattan, New York, NY, USA
$286,865,641
Building Size
—
Asset Type
Hotel
Closing
Feb 28, 2021
About this deal
AI
The Denihan Hospitality Group has secured a loan amount of $286,865,641 for the acquisition of multiple properties in Manhattan. The properties involved in the transaction include 215 East 64th Street, 303 Lexington Avenue, 155 East 50th Street, and 557 Lexington Avenue. These assets are all hotel properties located in the bustling Manhattan market.
Summary of Transaction Details
- Property Type: Hotel
- Loan Amount: $286,865,641
- Lender: Bsrecp Ii Joint Us Origination LLC
- Landlord: Denihan Hospitality Group
Representing the Denihan Hospitality Group in this deal is Patrick Denihan & Brooke Denihan Barrett from Denihan Hospitality Group, acting as their own representatives. The loan was provided by Bsrecp Ii Joint Us Origination LLC, solidifying the financial aspect of the transaction.
On the Map
$286,865,641
Hotel
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Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93