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Maverick Real Estate Partners Acquires $110M Loan For Midtown Hotel From Arbor Commercial Mortgage

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FINANCED
$110,000,000
Lauren Kaufman
Daniel (Dan) O'Brien
Adam Spies
+ 1

New York

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Hotel155,594 SF
Financed 05/23/2022
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Property Image
FINANCED

Maverick Real Estate Partners Acquires $110M Loan For Midtown Hotel From Arbor Commercial Mortgage

255 West 34th Street, New York City, New York 10001, United States

See Similar Deals
Hotel155,594 SF
Financed 05/23/2022
Lauren Kaufman
Daniel (Dan) O'Brien
Adam Spies
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$707
Total Square Footage:155,594 SF
Transaction Type:Loan

The Chetrit Group, a real estate company, recently took out a $110 million acquisition loan for a hotel property located at 255 West 34th Street in Midtown. The hotel spans a total of 155,594 square feet and has 323 rooms. Maverick Real Estate Partners provided the loan to Chetrit Group, purchasing it from Arbor Commercial Mortgage.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $110,000,000
  • Property Size: 155,594 SF
  • Number of Rooms: 323
  • Address: 255 West 34th Street
  • Market: Midtown

The loan was facilitated by Maverick Real Estate Partners, a lending company. The representatives from Cushman & Wakefield, namely Adam Spies, Adam Doneger, Lauren Kaufman, and Daniel O'Brien, acted as brokers in the transaction on behalf of Chetrit Group, the owner and landlord of the property.

Players

Adam Doneger
Newmark
Adam Doneger
190 deals$50.2B volume(516) 317-7837
BROKER
Lauren Kaufman
JLL
Lauren Kaufman
35 deals$5.4B volume(312) 470-1800
BROKER
Adam Spies
Newmark
Adam Spies
263 deals$71.8B volume(212) 841-7500
BROKER
Daniel (Dan) O'Brien
Newmark
Daniel O'Brien
146 deals$4.7B volume(212) 698-5584
BROKER
Maverick Real Estate Partners
Maverick Real Estate Partners
LENDER
Chetrit Group
Chetrit Group
LENDER
Chetrit Group
Chetrit Group
LANDLORD

Details

FINANCED
IMAGE: Adam Spies, Adam Doneger, Daniel O'Brien & Lauren Kaufman DATE: 05/23/2022 ADDRESS: 255 West 34th Street MARKET: Midtown ASSET TYPE: Hotel ~ SF: 155,594 ~ KEYS: 323 LENDER: Maverick Real Estate Partners LANDLORD: Chetrit Group BROKERS: Adam Spies, Adam Doneger (@ADoneger), Lauren Kaufman & Daniel O'Brien - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $110,000,000 LOAN TYPE: Acquisition LOAN TERMS: Maverick Real Estate Partners purchased the loan from Arbor Commercial Mortgage

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$110,000,000.00

Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00