Soho Properties Refinances Margaritaville Times Square Hotel For $317M
FINANCED
$317,000,000
New York
See Similar DealsHotel158,519 SF
Financed 09/22/2021
FINANCED
Soho Properties Refinances Margaritaville Times Square Hotel For $317M
Margaritaville - Times Square, 560 7th Ave, New York, NY, USA
See Similar DealsHotel158,519 SF
Financed 09/22/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$1,999
Total Square Footage:158,519 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$317,000,000.00
Monthly NOI$2,113,333.33
Monthly Debt Service$2,003,655.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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