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Craig A. Spencer Of Arden Group Secures $142 Million Loan For Margaritaville Hotel In Times Square
FINANCED
$142,000,000
New York
See Similar DealsHotel
Financed 08/19/2025
FINANCED
Craig A. Spencer Of Arden Group Secures $142 Million Loan For Margaritaville Hotel In Times Square
560 Seventh Avenue
See Similar DealsHotel
Financed 08/19/2025
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The property asset involved is the 234-room Margaritaville Hotel located at 560 Seventh Avenue in Times Square. OWS Real Estate Finance provided a mortgage loan amounting to $142 million for this hotel asset owned by Arden Group.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $142,000,000
- Market: Times Square
- Lender: OWS Real Estate Finance
- Landlord: Craig A. Spencer - Arden Group
The deal involves Craig A. Spencer representing Arden Group as the landlord in this transaction, with OWS Real Estate Finance being the lender facilitating the mortgage loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$142,000,000.00
Monthly NOI$946,666.67
Monthly Debt Service$897,536.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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