Yellowstone Real Estate Investments Refinances The Hotel @ Times Square For $44.5M
59 West 46th Street
$44,500,000
$442/SF
Building Size
100,678 SF
Asset Type
Hotel
Closing
Feb 28, 2023
About this deal
AI
The Hotel @ Times Square, located at 59 West 46th Street in Midtown West, Manhattan, has recently undergone a refinancing transaction. The hotel property spans across approximately 100,678 square feet with a total buildable square footage of 118,500. The loan, obtained on February 28, 2023, amounted to $44,500,000 and was secured through a refinancing agreement.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $44,500,000
- Address: 59 West 46th Street
- Market: Midtown West, Manhattan
- Asset Type: Hotel
- Buildable Square Footage: 118,500
- Square Footage: 100,678
The lender responsible for providing the refinance loan is Yellowstone Real Estate Investments, represented by Tsach I. Hera. The landlord of the property is Paramdeep Singh.
On the Map
$44,500,000
$442/SF
Hotel
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Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93