Daily limit: 0/10
Jasmin Patel Secures $28M Refinance Loan For Garment District Hotel
FINANCED
$28,000,000
New York
See Similar DealsHotel37,195 SF
Financed 06/23/2023
FINANCED
Jasmin Patel Secures $28M Refinance Loan For Garment District Hotel
48 West 36th Street New York, New York 10018, USA
See Similar DealsHotel37,195 SF
Financed 06/23/2023
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$752
Total Square Footage:37,195 SF
Transaction Type:Loan
Jasmin Patel secured a refinancing loan valued at $28 million from Dime Community Bank for the hotel building located at 48 West 36th Street in Manhattan's Garment District. The property spans 37,195 square feet.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $28,000,000
- Address: 48 West 36th Street
- Market: Garment District, Manhattan
- Lender: Dime Community Bank - Mario Colon
- Landlord: Jasmin Patel
Mario Colon from Dime Community Bank served as the lender for the refinancing loan obtained by Jasmin Patel for the hotel at 48 West 36th Street. Jasmin Patel is the landlord of the property.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,000,000.00
Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions