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Joseph Brunner Of Bruman Realty Secures $7M Refinance Loan For Hotel In NoHo Manhattan
FINANCED
$7,000,000
New York
See Similar DealsHotel12,385 SF
Financed 07/31/2025
FINANCED
Joseph Brunner Of Bruman Realty Secures $7M Refinance Loan For Hotel In NoHo Manhattan
338 340 Bowery
See Similar DealsHotel12,385 SF
Financed 07/31/2025
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$565
Total Square Footage:12,385 SF
Transaction Type:Loan
The property involved in this transaction is a hotel located at 338-340 Bowery in the NoHo market of Manhattan. This asset spans a total of 12,385 square feet. The transaction features a refinance loan amounting to $7,000,000, which replaces a prior loan of $4,100,000 from Webster Bank.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $7,000,000
- Address: 338-340 Bowery
- Market: NoHo, Manhattan
- Lender: Metropolitan Commercial Bank
- Landlord: Joseph Brunner - Bruman Realty
- Loan Type: Refinance
This refinance loan was secured by Joseph Brunner’s company, Bruman Realty. The transaction highlights the strategic financial maneuver to replace the existing loan with a larger refinance to better meet the financial needs associated with the hotel property.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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