GFI Capital Resources Group Secures $195M Refinance Loan For Beekman Hotel In Financial District
5 Beekman Street
$195,000,000
$1,082/SF
Building Size
180,093 SF
Asset Type
Hotel
Closing
Jan 15, 2025
AI
The property asset involved in this transaction is the Beekman Hotel, located at 5 Beekman Street in the Financial District of Manhattan. The asset is classified as a hotel and has a total square footage of 180,093. The transaction involves a refinancing loan amounting to $195,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $195,000,000
- Address: 5 Beekman Street
- Market: Financial District, Manhattan
- Asset Size: 180,093 SF
- Lender: Michael Lipson - Access Point Financial
- Landlord: Allen Gross - GFI Capital Resources Group
- Loan Type: Refinance
This transaction features key individuals such as Michael Lipson, who represents Access Point Financial as the lender, and Allen Gross, who represents GFI Capital Resources Group as the landlord. GFI Capital Resources Group successfully secured a refinancing loan not only for the Beekman Hotel but also for another property in Manhattan’s Financial District.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93