Blackstone Refinances Stewart Hotel In Midtown Manhattan For $125M

The Stewart Hotel, located at 371 7th Avenue in Midtown Manhattan, was recently involved in a refinance loan transaction. The hotel, with 620 keys, has attracted the attention of lenders looking to invest in the bustling Midtown Manhattan market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $125,033,223
• Address: 371 7th Avenue - Stewart Hotel
• Market: Midtown Manhattan
• Lender: Stephen A. Schwarzman & Jonathan Gray - Blackstone
• Brokers: Morris Betesh, David Hayum & Alex Bailkin - Meridian Capital Group
• Loan Type: Refinance

The loan, amounting to $125,033,223, was provided by Stephen A. Schwarzman and Jonathan Gray of Blackstone. Representing the lending side of the transaction, they saw the potential in the Stewart Hotel and decided to take part in its refinancing. The Meridian Capital Group, led by brokers Morris Betesh, David Hayum, and Alex Bailkin, facilitated the deal, ensuring a smooth transaction for all parties involved.