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
About this deal
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.
The hotel loan at 300 Broadway in Albany, New York financed for $7.7M in 2023. The building is 159,000 square feet, implying about 48 per square foot on the published price. Cory mais, Sammy Kapoor, Morris Oiring, Michael Steinberg appear on the loan alongside HedgeStone Business Advisors, HedgeStone Commercial. This page is the Albany, New York file for the 300 Broadway hotel financed: pricing, party profiles, and other closed hotel comps from the same Albany sit in the Market section below. Filter that Albany hotel set by closing date to see what else financed near 300 Broadway around 2023. Published consideration for 300 Broadway is $7.7M, dated 2023. Cite this Morris Oiring Refinances Albany Hotel With $7.7M Loan From Christopher Moon loan when underwriting similar hotel product around Albany, New York.
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