Jasmin Patel Secures $38 Million Construction Loan From Industrial & Commercial Bank Of China For Hotel In New York City

The asset involved in this transaction is a hotel located at 319 West 38th Street in New York City. The loan amount for this construction project is $38,000,000.00, which enables the development and improvement of the property.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $38,000,000.00
• Loan Type: Construction
• Lender: Industrial & Commercial Bank Of China
• Landlord: Jasmin Patel
• Date of Loan: 02/27/2025
• Market: New York City

The key individuals and entities involved in this transaction include Jasmin Patel, the landlord of the property, and the Industrial & Commercial Bank Of China, acting as the lender facilitating the construction loan.