Richard Born Of BD Hotels Refinances Pod Hotel In Hell's Kitchen For $179.1M With Wells Fargo
400 West 42nd Street
$179,100,000
Building Size
—
Asset Type
Hotel
Closing
Apr 16, 2026
About this deal
AI
The asset involved in this transaction is a hotel located at 400 West 42nd Street in Hell’s Kitchen, Manhattan. The loan for the property amounted to $179,100,000 and is a refinance loan. The loan was closed on April 16, 2026, and recorded on April 21, 2026.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $179,100,000
- Lender: Wells Fargo
- Landlord: Richard Born - BD Hotels
- Asset Management: 400 Times Square Associates LLC
Richard Born, representing BD Hotels, was involved in the refinancing of the Pod Hotel. This transaction reflects the efforts of BD Hotels to manage and potentially enhance the financial structure of their asset in the competitive Hell’s Kitchen market.
On the Map
$179,100,000
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93