Helm Equities Refinances Coney Island Hotel For $39.9M With Lender Bellwether Enterprise
FINANCED
$39,999,000
New York
See Similar DealsHotel93,504 SF
Financed 08/05/2021
FINANCED
Helm Equities Refinances Coney Island Hotel For $39.9M With Lender Bellwether Enterprise
2201 Neptune Avenue, Coney Island, Brooklyn, NY, USA
See Similar DealsHotel93,504 SF
Financed 08/05/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$427
Total Square Footage:93,504 SF
Transaction Type:Loan
The Hotel located at 2201 Neptune Avenue in Coney Island has been recently involved in a loan transaction. The property spans 93,504 square feet and is owned by Helm Equities. The loan amount for this transaction was $39,999,000, and it was a refinance loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $39,999,000
- Address: 2201 Neptune Avenue
- Market: Coney Island
- Loan Type: Refinance
The lender for this loan transaction was Ned Huffman from Bellwether Enterprise, while Helm Equities acted as the landlord. Ned Huffman, representing Bellwether Enterprise, played a key role in facilitating this refinance loan deal for the Hotel at 2201 Neptune Avenue in Coney Island.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,999,000.00
Monthly NOI$266,660.00
Monthly Debt Service$252,820.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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