Lexin Capital Refinances Hotel On 6th Avenue In New York City For $47M
815 6th Avenue
$47,000,000
$519/SF
Building Size
90,500 SF
Asset Type
Hotel
Closing
Mar 14, 2023
AI
The hotel located at 815 6th Avenue in New York City has recently undergone a refinancing transaction. The property, owned by Lexin Capital, has a total square footage of 90,500. The refinancing deal was facilitated by Beau Williams and Mike McGuire from . The loan amount for this transaction was $47,000,000 and it is a 5-year fixed rate loan.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $47,000,000
- Address: 815 6th Avenue, New York City
- Market: New York City
- Landlord: Lexin Capital
- Brokers: Beau Williams & Mike McGuire -
- Loan Type: Refinance
- Loan Terms: 5-year Fixed rate
Beau Williams and Mike McGuire from played pivotal roles in this refinancing transaction for the hotel at 815 6th Avenue. They represented the borrower and successfully secured a 5-year fixed rate loan amounting to $47,000,000. Their expertise and negotiation skills ensured a favorable outcome for their client.
Players
Market 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93