Metrovest Equities And BLDG Management Refinance East Hampton Hotel For $217.5M With Deutsche Bank
290 Old Montauk Highway, East Hampton, NY, USA
$219,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 1, 2021
About this deal
AI
A hotel property located at 290 Old Montauk Highway in East Hampton has recently undergone a refinancing transaction. The property, owned by George Filopoulos of Metrovest Equities and Matthew Joblon of BLDG Management, is situated in a thriving market in East Hampton.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $217,500,000
- Address: 290 Old Montauk Highway, East Hampton
The financing for this transaction was provided by Deutsche Bank. Representing the lender in the deal were Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Nick Scribani, and Jake Neeb from Newmark.
This refinancing deal highlights the collaboration between the property owners, George Filopoulos and Matthew Joblon, and the lender, Deutsche Bank. The involvement of Dustin Stolly, Jordy Roeschlaub, Chris Kramer, Nick Scribani, and Jake Neeb from Newmark as the lender's representatives further demonstrates the thoroughness of the transaction.
On the Map
$219,000,000
Hotel
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Players
Montauk 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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93