Issac Hera Of Yellowstone Real Estate Investments Secures $236M Loan For Hotel Renovation In Manhattan
440 West 57th Street
$236,000,000
Units
312
Asset Type
Hotel
Closing
Dec 22, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 440 West 57th Street in Hell’s Kitchen, Manhattan. The hotel spans a building square footage of 306,673. A construction loan of $236,000,000 was secured for renovation purposes, specifically to convert the H2 hotel into a 312-unit residential building.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $236,000,000
- Address: 440 West 57th Street
- Market: Hell’s Kitchen, Manhattan
- Lender: Barings
- Landlord: Issac Hera - Yellowstone Real Estate Investments
- Loan Type: Construction
- Building Square Footage: 306,673
- Renovation Plans Filed: March 2023
- Plans Permitted: December 2025
This deal is represented by Issac Hera of Yellowstone Real Estate Investments, who is involved in the transformation of the property with plans to evolve the hotel into a residential space.
On the Map
$236,000,000
Hotel
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Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93