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Mack Real Estate Credit Strategies Secures $300M Loan For Hudson Yards, Chelsea Hotel

Property Image
FINANCED
$3,000,000,000

New York

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Hotel333,396 SF
Financed 06/15/2021
the dealdetailscomps
Property Image
FINANCED

Mack Real Estate Credit Strategies Secures $300M Loan For Hudson Yards, Chelsea Hotel

343 West 39th Street, New York, NY, USA

See Similar Deals
Hotel333,396 SF
Financed 06/15/2021

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$8,998
Total Square Footage:333,396 SF
Transaction Type:Loan

The property in question is located at 343 West 39th Street, 337 West 39th Street, and 108 West 24th Street in the Hudson Yards and Chelsea markets. This asset is a hotel with a total square footage of 333,396. The loan for this transaction was provided by UBSCM 2018-NYCH in the amount of $300,000,000. The landlord in this deal is Mack Real Estate Credit Strategies.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $300,000,000
  • Address: 343 West 39th Street, 337 West 39th Street, 108 West 24th Street
  • Market: Hudson Yards, Chelsea
  • Loan Lender: UBSCM 2018-NYCH
  • Landlord: Mack Real Estate Credit Strategies
  • Square Footage: 333,396

The key individuals and companies involved in this transaction are the lender, UBSCM 2018-NYCH, and the landlord, Mack Real Estate Credit Strategies. They were instrumental in facilitating this loan deal for the hotel property located at 343 West 39th Street, 337 West 39th Street, and 108 West 24th Street. This transaction showcases the collaboration between the lending institution and the landlord in the real estate market.

Details

FINANCED
IMAGE: Richard Mack DATE: 06/15/2021 ADDRESS: 343 West 39th Street, 337 West 39th Street,108 West 24th Street MARKET: Hudson Yards, Chelsea ASSET TYPE: Hotel LENDER: UBSCM 2018-NYCH LANDLORD: Mack Real Estate Credit Strategies LOAN AMOUNT: $300,000,0000 SF: 333,396

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,000,000,000.00

Monthly NOI$20,000,000.00
Monthly Debt Service$18,962,040.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00