facebook
Traded Co logo
Submit
Daily limit: 0/10

David Lifschitz's Gehr Group Refinances Hotel With $18.2M Loan From MidFirst Bank

Property Image
FINANCED
$18,200,000

New York

See Similar Deals
Hotel102,000 SF
Financed 04/02/2024
the dealplayerscompscontact
Property Image
FINANCED

David Lifschitz's Gehr Group Refinances Hotel With $18.2M Loan From MidFirst Bank

330 West 40th Street

See Similar Deals
Hotel102,000 SF
Financed 04/02/2024
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$178
Total Square Footage:102,000 SF
Transaction Type:Loan

The hotel property at 330 West 40th Street in Manhattan's Garment District, home to the Fairfield Inn & Suites by Marriott New York Manhattan/Times Square, has secured an $18.2 million refinancing deal with MidFirst Bank. The property spans 102,000 square feet and is owned by David Lifschitz's Gehr Group.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $18,200,000
  • Address: 330 West 40th Street
  • Market: Garment District, Manhattan
  • Lender: MidFirst Bank
  • Landlord: David Lifschitz - Gehr Group

David Lifschitz's Gehr Group successfully closed the $18.2 million refinancing deal with MidFirst Bank for the hotel property located in Manhattan's Garment District. This transaction highlights the strategic financial management and investment decisions made by Lifschitz and the Gehr Group in the competitive Manhattan real estate market.

Players

MidFirst Bank
MidFirst Bank
LENDER

Details

FINANCED
IMAGE: David Lifschitz DATE: 04/02/2024 ADDRESS: 330 West 40th Street MARKET: Garment District, Manhattan ASSET TYPE: Hotel ~ SF: 102,000 LENDER: MidFirst Bank (@MidFirst) LANDLORD: David Lifschitz - Gehr Group LOAN AMOUNT: $18,200,000 LOAN TYPE: Refinance NOTE: David Lifschitz's Gehr Group secures an $18.2 million refinancing deal with MidFirst Bank for the hotel property at 330 West 40th Street in Manhattan's Garment District, home to the Fairfield Inn & Suites by Marriott New York Manhattan/Times Square.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,200,000.00

Monthly NOI$121,333.33
Monthly Debt Service$115,036.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00