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Riyad Bank Provides $60M Refinance Loan For Tribeca Hotel

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FINANCED
$60,000,000
Dustin Stolly
Jordan (Jordy) Roeschlaub
+ 2

New York

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Hotel
Financed 09/01/2023
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Property Image
FINANCED

Riyad Bank Provides $60M Refinance Loan For Tribeca Hotel

77 Walker Street

See Similar Deals
Hotel
Financed 09/01/2023
Dustin Stolly
Jordan (Jordy) Roeschlaub
+ 2
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Summary

NEW YORK
Asset Type:Hotel
Transaction Type:Loan

The recently completed property transaction in Tribeca, Manhattan involves a hotel located at 77 Walker Street. The asset, known for its prime location in the desirable Tribeca market, has been the subject of a refinancing deal.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $60,000,000
  • Address: 77 Walker Street
  • Market: Tribeca, Manhattan

The lender for this refinancing deal is Riyad Bank, represented by Tareq A. Al-Sadhan. On the other side of the transaction, Bridgeton Holdings, the landlord, is represented by Akash Sharma and Atit Jariwala. The brokerage team that facilitated this transaction includes Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Tyler Dumon from Newmark.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Nick Scribani
Newmark
191 deals$55.1B volume(212) 372-2113
BROKER

Tyler Dumon
Newmark
22 deals$3.7B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Riyad Bank
LENDER


Details

FINANCED
IMAGE: Jordan Roeschlaub, Nick Scribani, Akash Sharma, Tyler Dumon, Atit Jariwala, Tareq A. Al-Sadhan & Dustin Stolly DATE: 09/01/2023 ADDRESS: 77 Walker Street MARKET: Tribeca, Manhattan ASSET TYPE: Hotel LENDER: Riyad Bank (@RiyadBank) - Tareq A. Al-Sadhan LANDLORD: Bridgeton Holdings - Akash Sharma & Atit Jariwala BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Dustin Stolly, Nick Scribani (@ScribSays) & Tyler Dumon- Newmark (@Newmark) LOAN AMOUNT: $60,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,000,000.00

Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00