Bank OZK Provides $190M Refinance Loan For Beekman Street Hotel
5 Beekman Street, New York City, New York 10038, United States
$190,000,000
$1,151/SF
Building Size
165,000 SF
Asset Type
Hotel
Closing
Jan 20, 2022
About this deal
AI
The 165,000-square-foot hotel located at 5 Beekman Street in the Financial District has undergone a refinancing transaction. The property features 287 keys and is owned by GFI Capital Resources Group.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $190,000,000
- Address: 5 Beekman Street
- Market: Financial District
- Square Footage: 165,000
- Keys: 287
The loan for this transaction was obtained from Bank OZK. The brokers involved in the deal were Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Daniel Fromm, and Nick Scribani from Newmark.
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