Axos Bank Provides $6.6 Million Refinance For 50-Key Hotel In Long Island City
FINANCED
$6,600,000
New York
See Similar DealsHotel25,629 SF
Financed
FINANCED
Axos Bank Provides $6.6 Million Refinance For 50-Key Hotel In Long Island City
30 13 31st Street
See Similar DealsHotel25,629 SF
Financed
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$257
Total Square Footage:25629 SF
Transaction Type:Loan
A hotel property located at 30-13 31st Street in Long Island City spans 25,629 square feet and features 50 keys. Recently, a refinancing loan of $6,600,000 was arranged for this asset.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $6,600,000
- Lender: Axos Bank
- Brokers: Zev Feder & Satyam Patel - Meridian Capital Group
- Market: Long Island City
The transaction was facilitated by Zev Feder and Satyam Patel, both of whom are representatives from Meridian Capital Group. They are known for providing tailored financing solutions across various asset classes.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,600,000.00
Monthly NOI$44,000.00
Monthly Debt Service$41,716.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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