Ramsfield Hospitality Finance & AB CarVal Provide $50.5M Mortgage Financing For Thor Equities' West SoHo Hotel
27 Grand Street, New York City, New York 10013, United States
$50,500,000
Building Size
—
Asset Type
Hotel
Closing
Oct 24, 2022
About this deal
AI
Located at 27 Grand St, in the West SoHo market, this hotel is a part of the impressive portfolio owned by Thor Equities. With a total of 114 keys, this property offers ample accommodation for guests.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $50,500,000
- Lender: Ramsfield Hospitality Finance & AB CarVal
- Landlord: Thor Equities
- Loan Type: Mortgage financing
The financing for this deal was secured through a mortgage financing arrangement provided by Ramsfield Hospitality Finance and AB CarVal. This loan of $50,500,000 allowed Thor Equities to acquire and develop this hotel property, further strengthening their presence in the hospitality market. The collaboration with the lenders highlights their belief in the project's potential for success.
On the Map
$50,500,000
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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93