MCR Secures $30M Refinance Loan For Royalton New York Hotel In Midtown West, Manhattan
47 West 43rd Street
$30,000,000
$289/SF
Building Size
103,750 SF
Asset Type
Hotel
Closing
Nov 29, 2023
AI
The Royalton New York hotel building located at 47 West 43rd Street in Midtown West, Manhattan has secured a $30 million refinance loan from Maxim Capital Group. The hotel spans approximately 103,750 square feet and is owned by MCR, represented by William White.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Address: 47 West 43rd Street
- Market: Midtown West, Manhattan
Eric Chan from Maxim Capital Group acted as the lender in this refinance loan deal. William White, representing MCR, was the landlord in the transaction.
MCRopp New York Royal44 LLC, a subsidiary of MCR, obtained the $30 million loan from Maxim Capital Group to refinance the Royalton New York hotel. Located in Midtown West, Manhattan, the hotel is situated at 44 West 44th Street or 47 West 43rd Street.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93