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Eric Resnick Of KSL Capital Partners And Ashish Parikh Of Hersha Hospitality Refinance Hilton Garden Inn Tribeca For $58.6M
FINANCED
$58,600,000
New York
See Similar DealsHotel65,283 SF
Financed 12/06/2024
FINANCED
Eric Resnick Of KSL Capital Partners And Ashish Parikh Of Hersha Hospitality Refinance Hilton Garden Inn Tribeca For $58.6M
39 6th Avenue
See Similar DealsHotel65,283 SF
Financed 12/06/2024
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$897
Total Square Footage:65,283 SF
Transaction Type:Loan
The asset involved in this transaction is the Hilton Garden Inn Tribeca, located at 39 6th Avenue, Tribeca, Manhattan. The hotel has a total building square footage of 65,283 and a base square footage of 71,487.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $58,600,000
- Lender: Wells Fargo & Citibank
- Landlord: Eric Resnick - KSL Capital Partners & Ashish Parikh - Hersha Hospitality
- Loan Type: Refinance
This refinancing transaction was facilitated by KSL Capital Partners and involved Eric Resnick and Ashish Parikh representing their respective firms in the deal. The loan structure was put in place to enhance the company's financial position with respect to the hotel asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,600,000.00
Monthly NOI$390,666.67
Monthly Debt Service$370,391.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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