David Lifschitz Of The Gehr Group Refinances Four Points By Sheraton For $49.5M In Manhattan
326 West 40th Street
$49,500,000
$501/SF
Building Size
98,738 SF
Asset Type
Hotel
Closing
Apr 13, 2026
About this deal
AI
The asset involved in this transaction is Four Points by Sheraton Midtown–Times Square, located at 326 West 40th Street in the Garment District of Manhattan. The hotel spans a total square footage of 98,738. The property was refinanced with a loan amount of $49,500,000.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $49,500,000
- Loan Type: Refinance
- Lender: Citibank
- Landlord: David Lifschitz - The Gehr Group
This refinance transaction replaces prior debt held by Trimont, facilitating ongoing operations for the property owned by The Gehr Group, represented by David Lifschitz.
Players
New York Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93