BD Hotels Secures $34.5M Refinance Loan From Metropolitan Commercial Bank For Hotel Elysee
56 E 54th St New York, NY 10022, USA
$34,500,000
$527/SF
Building Size
65,452 SF
Asset Type
Hotel
Closing
Aug 11, 2023
About this deal
AI
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.
On the Map
$34,500,000
$527/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93