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Benderson Development Secures $54M Refinance Loan For Hotel In Manhattan's Garment District
FINANCED
$54,000,000
New York
See Similar DealsHotel141,335 SF
Financed 08/15/2024
FINANCED
Benderson Development Secures $54M Refinance Loan For Hotel In Manhattan's Garment District
220 West 41st Street
See Similar DealsHotel141,335 SF
Financed 08/15/2024
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$382
Total Square Footage:141,335 SF
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 220 West 41st Street, situated in Manhattan's Garment District. The property encompasses a total square footage of 141,335 and is being refinanced with a loan amount of $54,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $54,000,000
- Address: 220 West 41st Street
- Market: Garment District, Manhattan
- Lender: Jennifer A. Marler - Guggenheim Partners
- Landlord: Jason C. Lynch - Benderson Development
- Loan Type: Refinance
Key individuals in this transaction include Jennifer A. Marler representing Guggenheim Partners, who is the lender in this refinancing deal, and Jason C. Lynch, representing Benderson Development as the landlord of the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$54,000,000.00
Monthly NOI$360,000.00
Monthly Debt Service$341,316.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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