Deutsche Bank Provides $120M Loan For Midtown Manhattan's Grayson Hotel
30 W 39th St, New York, NY 10018, United States
$120,000,000
Building Size
—
Asset Type
Hotel
Closing
Aug 11, 2023
About this deal
AI
The Grayson Hotel, located at 30 West 39th St in Midtown Manhattan, has secured a $120 million loan from Deutsche Bank. This 296-room hotel, owned by Fortuna Realty and Kalimian Equities, will benefit from the financial support provided by the loan.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $120,000,000
- Address: 30 West 39th St, New York, NY
- Market: Midtown Manhattan
- Number of Keys: 296
- Lender: Deutsche Bank
- Landlord: Fortuna Realty & Kalimian Equities
Deutsche Bank's provision of a $120 million loan allows the Grayson Hotel to continue operating and investing in its business. This financial support will assist the hotel in maintaining its services and amenities, ensuring a comfortable and enjoyable experience for its guests.
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$120,000,000
Hotel
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93