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
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.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
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