Morris Oiring Refinances Albany Hotel With $7.7M Loan From Christopher Moon
300 Broadway
$7,719,930
$48/SF
Building Size
159,000 SF
Asset Type
Hotel
Closing
Jan 6, 2023
AI
Morris Oiring, the landlord of the property located at 300 Broadway in Albany, has secured a refinance loan for the hotel asset. The loan was obtained from Christopher Moon, the lender, for a total amount of $7,719,930.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $7,719,930
- Address: 300 Broadway, Albany
- Market: Albany
The deal was facilitated by the following brokers: Cory Mais and Sammy Kapoor from Empire Business Management, and Michael Steinberg from HedgeStone Business Advisors.
Players
Albany 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
2.05%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93