Mack Real Estate Credit Strategies Provides $185M Construction Loan For Midtown Hotel
FINANCED
$185,000,000
New York
See Similar DealsHotel238,818 SF
Financed 08/02/2022
FINANCED
Mack Real Estate Credit Strategies Provides $185M Construction Loan For Midtown Hotel
250 West 43rd Street, New York City, New York 10036, United States
See Similar DealsHotel238,818 SF
Financed 08/02/2022
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$774
Total Square Footage:238,818 SF
Transaction Type:Loan
The hotel property located at 250 West 43rd Street in Midtown was recently involved in a closed transaction. The property consists of 570 keys and was the subject of a construction loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $185,000,000
- Address: 250 West 43rd Street
- Market: Midtown
Adi Chugh and Joseph Chetrit were the key individuals involved in this transaction. Adi Chugh, representing Surya Capital Partners, acted as the broker in the deal. Joseph Chetrit, from The Chetrit Group, served as the landlord. The lender for the construction loan was Mack Real Estate Credit Strategies.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$185,000,000.00
Monthly NOI$1,233,333.33
Monthly Debt Service$1,169,325.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions