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BD Hotels Secures $34.5M Refinance Loan From Metropolitan Commercial Bank For Hotel Elysee
FINANCED
$34,500,000
New York
See Similar DealsHotel65,452 SF
Financed 08/11/2023
FINANCED
BD Hotels Secures $34.5M Refinance Loan From Metropolitan Commercial Bank For Hotel Elysee
56 E 54th St New York, NY 10022, USA
See Similar DealsHotel65,452 SF
Financed 08/11/2023
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$527
Total Square Footage:65,452 SF
Transaction Type:Loan
The Hotel Elysee building, located at 56 East 54th Street in Midtown East, Manhattan, has secured a refinancing loan of $34.5 million from Metropolitan Commercial Bank. The loan was obtained by BD Hotels, represented by the entity Elysee Hotel, LLC.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $34,500,000
- Address: 56 East 54th Street
- Market: Midtown East, Manhattan
- Asset Type: Hotel
- Square Footage: 65,452 SF
- Lender: Metropolitan Commercial Bank
- Lender Representative: Dennis Graham
- Landlord: BD Hotels
- Landlord Representative: Richard Born
Dennis Graham, representing Metropolitan Commercial Bank, provided the refinancing loan to BD Hotels for the Hotel Elysee building. Richard Born, on behalf of BD Hotels, spearheaded the refinancing deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,500,000.00
Monthly NOI$230,000.00
Monthly Debt Service$218,063.47
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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