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Mack Real Estate Group Secures $235 Million Refinance Loan For Manhattan Hotel Properties

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FINANCED
$235,000,000

New York

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Hotel
Financed 06/09/2025
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FINANCED

Mack Real Estate Group Secures $235 Million Refinance Loan For Manhattan Hotel Properties

339 341 West 39th Street, 343 345 West 39th Street & 337 West 39th Street

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Hotel
Financed 06/09/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Hotel
Transaction Type:Loan

The assets involved in this transaction are seven hotel properties located at 339-341 West 39th Street, 343-345 West 39th Street, and 337 West 39th Street, situated in the Garment District of Manhattan. The loan is valued at $235,000,000, which is a refinance loan secured to replace $300,000,000 of prior debt from UBSCM 2018-NYCH.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $235,000,000
  • Lender: Wells Fargo
  • Landlord: William Mack, Richard Mack & Stephen Mack - Mack Real Estate Group
  • Market: Garment District, Manhattan
  • Loan Type: Refinance

Mack Real Estate Group, represented by William Mack, Richard Mack & Stephen Mack, was responsible for securing this refinancing arrangement with Wells Fargo, enhancing their portfolio in the competitive Manhattan market.

Players

Stephen Mack
Stephen Mack
2 deals$263.8M volume
BROKER
Wells Fargo
Wells Fargo
LENDER
Mack Real Estate Group
Mack Real Estate Group
LANDLORD
Mack Real Estate Group
Mack Real Estate Group
LANDLORD
Stephen Mack
Mack Real Estate Group
Stephen Mack
2 deals$263.8M volume
LANDLORD
Mack Real Estate Group
Mack Real Estate Group
LANDLORD

Details

FINANCED
IMAGE: William Mack, Richard Mack & Stephen Mack DATE: 06/09/2025 ADDRESS: 339-341 West 39th Street, 343-345 West 39th Street & 337 West 39th Street MARKET: Garment District, Manhattan ASSET TYPE: Hotel LENDER: Wells Fargo (@WellsFargo) LANDLORD: William Mack, Richard Mack & Stephen Mack - Mack Real Estate Group LOAN AMOUNT: $235,000,000 LOAN TYPE: Refinance NOTE: Mack Real Estate Group secured a $235M refi loan from Wells Fargo for seven hotel properties in Manhattan’s Garment District, replacing $300M in prior debt from UBSCM 2018-NYCH.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$235,000,000.00

Monthly NOI$1,566,666.67
Monthly Debt Service$1,485,359.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00