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Joginder Sharma Refinances Garment District Hotel With $42.7M Loan
FINANCED
$42,700,000
New York
See Similar DealsHotel93,090 SF
Financed 06/28/2024
FINANCED
Joginder Sharma Refinances Garment District Hotel With $42.7M Loan
345 West 35th Street
See Similar DealsHotel93,090 SF
Financed 06/28/2024
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$458
Total Square Footage:93,090 SF
Transaction Type:Loan
The hotel building at 345 West 35th Street in Manhattan's Garment District, with a square footage of 93,090, recently underwent a refinancing transaction. Randy Reiff of Allegiant Real Estate Capital provided a $42.7 million loan to Joginder Sharma for this property.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $42,700,000
- Lender: Randy Reiff - Allegiant Real Estate Capital
- Landlord: Joginder Sharma
- Representative: Eros Management & Realty, LLC
- Loan Type: Refinance
Joginder Sharma, represented by Eros Management & Realty, LLC, successfully secured the $42.7 million refinance loan from Allegiant Real Estate Capital, facilitated by Randy Reiff and Allegiant Capital Funding, LLC. This deal highlights the collaboration of key individuals and entities in the real estate financing sector.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,700,000.00
Monthly NOI$284,666.67
Monthly Debt Service$269,893.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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