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M&R Hotel Management Secures $38.7 Million Refinance Loan For Hotel In Hell's Kitchen
FINANCED
$38,700,000
New York
See Similar DealsHotel123,400 SF
Financed 08/16/2024
FINANCED
M&R Hotel Management Secures $38.7 Million Refinance Loan For Hotel In Hell's Kitchen
532 West 48th Street & 540 West 48th Street
See Similar DealsHotel123,400 SF
Financed 08/16/2024
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$313
Total Square Footage:123,400 SF
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 532-540 West 48th Street in Hell's Kitchen, Manhattan. The hotel spans 61,700 square feet and has a refinancing loan amount of $38,700,000 secured by M&R Hotel Management.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $38,700,000
- Lender: Avi Lieberman & Ryan Shay - Israel Discount Bank
- Landlord: Samir R. Gandhi - M&R Hotel Management
- Loan Type: Refinance
- Market: Hell’s Kitchen, Manhattan
This transaction involved key individuals and companies, specifically Avi Lieberman and Ryan Shay representing Israel Discount Bank as the lenders, with Samir R. Gandhi representing M&R Hotel Management as the landlord in this refinancing deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,700,000.00
Monthly NOI$258,000.00
Monthly Debt Service$244,610.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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