Isaac Chetrit, Eli Chetrit, Ray Yadidi & Jack Yadidi Secure $140M Refinance For Midtown South Hotel
371 Seventh Avenue
$140,000,000
$225/SF
Building Size
620,000 SF
Asset Type
Hotel
Closing
Jul 9, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 371 Seventh Avenue, positioned in the Midtown South market. This property encompasses a total square footage of 620,000 and includes 620 keys. The transaction consists of a refinance loan amounting to $140,000,000.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $140,000,000
- Address: 371 Seventh Avenue
- Market: Midtown South
- Square Footage: 620,000
- Keys: 620
- Lender: Valley Bank
- Landlord: Isaac Chetrit, Eli Chetrit, Ray Yadidi & Jack Yadidi
- Loan Type: Refinance
The key individuals behind this transaction include Isaac Chetrit, Eli Chetrit, Ray Yadidi, and Jack Yadidi, who collectively represent the landlord in this deal, collaborating with Valley Bank as the lender to complete the refinancing process.
On the Map
$140,000,000
$225/SF
Hotel
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Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93