Walker & Dunlop Arranges $112.5 Million Refinance For Ace Hotel Brooklyn By GFI Capital & Spruce Capital Partners
252 Schermerhorn Street
$112,500,000
$726/SF
Building Size
154,947 SF
Asset Type
Hotel
Closing
Jan 6, 2026
AI
The Ace Hotel Brooklyn is a hotel asset located at 252 Schermerhorn Street in Brooklyn, featuring 154,947 square feet and 287 keys. The property is a 13-story hotel that was refinanced in this transaction.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $112,500,000
- Lender: Torchlight Investors
- Landlord: GFI Capital & Spruce Capital Partners
- Brokers: Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Michael Brown, Sean Bastian & Cole Grims - Walker & Dunlop
- Loan Type: Refinance
Walker & Dunlop arranged the refinancing loan on behalf of GFI Capital Resources Group and Spruce Capital Partners, coordinating the financial details for this significant transaction involving a prominent hotel in Brooklyn.
Players
Brooklyn 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93