Issac Hera Of Yellowstone Real Estate Investments Secures $113M Refinance Loan For Hotel In Midtown East
541 Lexington Avenue
$113,000,000
Building Size
—
Asset Type
Hotel
Closing
Apr 30, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 541 Lexington Avenue in Midtown East. Yellowstone Real Estate Investments acquired the former Maxwell Hotel for $140 million through a foreclosure auction last year. The property underwent a refinancing process, securing a loan amount of $113 million from Bank Hapoalim (BHI).
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $113,000,000
- Lender: Bank Hapoalim (BHI)
- Landlord: Issac Hera - Yellowstone Real Estate Investments
- Loan Type: Refinance
- Address: 541 Lexington Avenue
- Market: Midtown East
Issac Hera, representing Yellowstone Real Estate Investments, played a crucial role in the loan transaction with BHI. The refinancing aims to reposition the acquired hotel asset, indicating a strategic plan for its future development and management.
On the Map
$113,000,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93