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Metropolitan Bank Refinances Upper West Side Hotel For $17M

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FINANCED
$17,000,000
Drew Anderman
David Bollag
+ 1

New York

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Hotel1 SF
Financed 09/21/2023
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Property Image
FINANCED

Metropolitan Bank Refinances Upper West Side Hotel For $17M

80 Riverside Drive

See Similar Deals
Hotel1 SF
Financed 09/21/2023
Drew Anderman
David Bollag
+ 1
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Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$17,000,000
Total Square Footage:1 SF
Transaction Type:Loan

The property at 80 Riverside Drive in the Upper West Side of Manhattan has undergone a refinancing transaction. The loan amount for this deal is $17,000,000, with Metropolitan Bank serving as the lender. The asset in question is a hotel, located in a desirable market.

Summary of transaction details

The key individuals and companies involved in this transaction include David Bollag, Drew Anderman, Naphtali Marrus, and Elliot Braude from the Meridian Capital Group, who acted as brokers in the deal. They played a crucial role in facilitating the refinancing process for the hotel property on Riverside Drive.

Players

David Bollag
29 deals$928.7M volume
BROKER

Drew Anderman
CBRE
39 deals$5.2B volume(917) 854-4240
BROKER

Drew Anderman
CBRE
39 deals$5.2B volume(917) 854-4240
BROKER

Naphtali Marrus
Meridian Capital Group
12 deals$736.4M volume
BROKER

Elliot Braude
Meridian Capital Group
2 deals$69.2M volume(212) 972-3600
BROKER

Metropolitan Commercial Bank
LENDER

Details

FINANCED
IMAGE: Naphtali Marrus, David Bollag, Drew Anderman & Elliot Braude DATE: 09/21/2023 ADDRESS: 80 Riverside Drive MARKET: Upper West Side, Manhattan ASSET TYPE: Hotel LENDER: Metropolitan Bank BROKERS: David Bollag (@DaveBollag), Drew Anderman (@DrewAnderman), Naphtali Marrus (@TheMarrusTeam) & Elliot Braude - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $17,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,000,000.00

Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00