Morris Moinian Of Fortuna Realty Group Secures $52M Refinancing Loan For Hotel Hugo In Hudson Square
525 Greenwich Street
$52,000,000
$870/SF
Building Size
59,720 SF
Asset Type
Hotel
Closing
Jun 9, 2025
About this deal
AI
The property involved in the transaction is a hotel located at 525 Greenwich Street in Hudson Square, Manhattan. It encompasses a total square footage of 59,720. The asset has been refinanced with a substantial loan amount of $52,000,000.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $52,000,000
- Market: Hudson Square, Manhattan
- Lender: Alex Horn - BridgeInvest
- Landlord: Morris Moinian - Fortuna Realty Group
- Loan Type: Refinance
The refinancing loan was secured by Fortuna Realty Group, represented by Morris Moinian. The lender for the deal was Alex Horn, representing BridgeInvest, highlighting the collaboration between the two parties in this financial transaction.
On the Map
$52,000,000
$870/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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93