GFI Capital Resources Group Secures $195M Refinance Loan For Beekman Hotel In Manhattan
5 Beekman Street
$195,000,000
$1,082/SF
Building Size
180,093 SF
Asset Type
Hotel
Closing
Jan 15, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 5 Beekman Street, situated in the Financial District of Manhattan. The property spans a total square footage of 180,093. The refinancing loan associated with this property amounts to $195,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $195,000,000
- Lender: Access Point Financial
- Landlord: GFI Capital Resources Group
- Brokers: Adam Licari & Rob Turner - Eastdil Secured
- Loan Type: Refinance
Eastdil Secured provided advisory services to GFI Capital Resources Group in securing the $195 million refinancing loan from Access Point Financial specifically for the Beekman Hotel as well as another property within Manhattan’s Financial District.
On the Map
$195,000,000
$1,082/SF
Hotel
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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