National Bank Of Pakistan Provides $37M Loan For Hotel At 45 East 45th Street, Midtown
45 East 45th Street, New York, NY, USA
$37,000,000
$854/SF
Building Size
43,313 SF
Asset Type
Hotel
Closing
Jan 12, 2021
About this deal
AI
Located at 45 East 45th Street in Midtown, this hotel property was involved in a recent transaction. The loan, provided by National Bank of Pakistan, amounted to $37,000,000. The landlord, PIA Investments Ltd., was part of the deal.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $37,000,000
- Lender: National Bank of Pakistan
- Landlord: PIA Investments Ltd.
Air Marshal Arshad Malik and Syed Aijaz Mazhar were seen together in an image shared on January 13, 2021, indicating their involvement in the transaction.
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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93