Thor Equities Secures $53.5 Million Refinance Loan For Hotel At 27 Grand Street
27 Grand Street
$53,500,000
Building Size
—
Asset Type
Hotel
Closing
Oct 7, 2025
About this deal
AI
The asset involved in the transaction is a hotel located at 27 Grand Street in the SoHo market of Manhattan. The loan amount for this refinance transaction is $53,500,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $53,500,000
- Lender: Argentic Real Estate Finance
- Landlord: Thor Equities
- Landlord's Representative: Rob Turner, Adam Licari, Auston Ingram & Michael Smilove - Eastdil Secured
- Loan Type: Refinance
The individuals representing Thor Equities in this transaction include Rob Turner, Adam Licari, Auston Ingram, and Michael Smilove, all affiliated with Eastdil Secured. Their involvement highlights the professional representation behind the refinancing of the hotel asset.
On the Map
$53,500,000
Hotel
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Players
New York 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
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93