Sheridan Capital Provides $30 Million Bridge Loan For Hotel At 6 West 32nd Street
6 West 32nd Street
$30,000,000
$30,000,000/SF
Building Size
1 SF
Asset Type
Hotel
Closing
Mar 6, 2025
AI
The asset involved in this transaction is a hotel located at 6 West 32nd Street in Manhattan. The loan amount secured for this property is $30,000,000 under a bridge loan type.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Lender: Sheridan Capital
- Lender's Representatives: Aaron Kurlansky & Ralph Gelley - Sheridan Capital
- Loan Type: Bridge
The deal involves Aaron Kurlansky and Ralph Gelley representing Sheridan Capital as the lenders for this transaction. Their role is pivotal in facilitating the loan agreement for the hotel asset.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93