Soho Properties Refinances Margaritaville Times Square Hotel For $317M
Margaritaville - Times Square, 560 7th Ave, New York, NY, USA
$317,000,000
$1,999/SF
Building Size
158,519 SF
Asset Type
Hotel
Closing
Sep 22, 2021
About this deal
AI
Hotel 🏨 🍹 located at 560 7th Ave., also known as @MargaritavilleTimesSquare, in Times Square has recently undergone a refinancing transaction. The property comprises of 234 rooms.
Summary of transaction details:
- Property Type: Hotel 🏨
- Transaction Amount: $317,000,000
- Address: 560 7th Ave.
- Market: Times Square
- Keys: 234 🔑
The landlord for this property, also known as @MargaritavilleTimesSquare, is Soho Properties represented by Sharif El-Gamal. The loan for the refinancing amounts to $317,000,000.
The hotel loan at Margaritaville - Times Square, 560 7th Ave, New York, NY, USA in New York, New York financed for $317M in 2021. The building is 158,519 square feet, implying about 2K per square foot on the published price. Named participants on the Margaritaville - Times Square, 560 7th Ave, New York, NY, USA loan are Sharif El-Gamal. This page is the New York, New York file for the Margaritaville - Times Square, 560 7th Ave, New York, NY, USA hotel financed: pricing, party profiles, and other closed hotel comps from the same New York sit in the Market section below. Filter that New York hotel set by closing date to see what else financed near Margaritaville - Times Square, 560 7th Ave, New York, NY, USA around 2021. Published consideration for Margaritaville - Times Square, 560 7th Ave, New York, NY, USA is $317M, dated 2021. Cite this Soho Properties Refinances Margaritaville Times Square Hotel For $317M loan when underwriting similar hotel product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93