Helm Equities Refinances Coney Island Hotel For $39.9M With Lender Bellwether Enterprise
2201 Neptune Avenue, Coney Island, Brooklyn, NY, USA
$39,999,000
$427/SF
Building Size
93,504 SF
Asset Type
Hotel
Closing
Aug 4, 2021
AI
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.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93