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Scott Shnay Of CBSK Development Secures $76 Million Refinance Loan For Pod Hotel Brooklyn

Property Image
FINANCED
$76,000,000
Keith Kurland
Ari Hirt
+ 3

New York

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Hotel137,840 SF
Financed 12/30/2024
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Property Image
FINANCED

Scott Shnay Of CBSK Development Secures $76 Million Refinance Loan For Pod Hotel Brooklyn

247 Metropolitan Avenue

See Similar Deals
Hotel137,840 SF
Financed 12/30/2024
Keith Kurland
Ari Hirt
+ 3
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$551
Total Square Footage:137,840 SF
Transaction Type:Loan

The asset involved in this transaction is the Pod Hotel Brooklyn, located at 247 Metropolitan Avenue in the Brooklyn market. The hotel features a total square footage of 137,840 and comprises 249 keys. The refinance loan amount secured for this property is $76,000,000.

Summary of transaction details:

This deal involved several key individuals and institutions. Aaron Casden from JP Morgan and Joe Dyckman from Citigroup served as lenders. The landlord of the property is Scott Shnay of CBSK Development. Multiple brokers played vital roles in this transaction, representing the parties involved through Walker & Dunlop.

Players

Aaron Appel
194 deals$32.5B volume
BROKER

Ari Hirt
Walker & Dunlop
28 deals$3.1B volume(301) 215-5500
BROKER

Jonathan Schwartz
Walker & Dunlop
168 deals$27.2B volume
BROKER

Keith Kurland
Walker & Dunlop
173 deals$29.4B volume
BROKER

Adam Schwartz
Walker & Dunlop
166 deals$25.7B volume(646) 491-8869
BROKER

Jackson Irwin
Walker & Dunlop
9 deals$795.9M volume(858) 442-8456
BROKER

Citibank
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Ari Hirt, Jackson Irwin, Scott Shnay, Joe Dyckman & Aaron Casden DATE: 12/30/2024 ADDRESS: Pod Hotel Brooklyn - 247 Metropolitan Avenue MARKET: Brooklyn ASSET TYPE: Hotel ~ SF: 137,840 ~ KEYS: 249 LENDER: Aaron Casden - JP Morgan (@JPMorgan) & Joe Dyckman - Citigroup LANDLORD: Scott Shnay - CBSK Development BROKERS: Aaron Appel, Keith Kurland (@KaKurland), Jonathan Schwartz (@JSchwa1386), Adam Schwartz (@AdamSchwartz88), Ari Hirt & Jackson Irwin - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $76,000,000 LOAN TYPE: Refinance &Dunlop

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$76,000,000.00

Monthly NOI$506,666.67
Monthly Debt Service$480,371.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00