Matthew Brendle's 88 Wall Street Hotel In Financial District Refinances With $60M Loan From Macquarie Group - Darsha Rama Kumar
88 Wall Street, New York City, New York 10005, United States
$60,000,000
$582,524/SF
Building Size
103 SF
Asset Type
Hotel
Closing
Dec 19, 2022
About this deal
AI
Located at 88 Wall Street in the Financial District, this hotel property has been involved in a recent closed transaction. With a total square footage of 103,297, the property stands as a notable asset in the area.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $60,000,000
- Market: Financial District
- Lender: Macquarie Group - Darsha Rama Kumar
- Landlord: Breakwater - Matthew Brendle
- Loan Type: Refinance
In this transaction, Macquarie Group, represented by Darsha Rama Kumar, provided a loan amount of $60,000,000 for the refinance of the property. The landlord in this deal is Breakwater, represented by Matthew Brendle.
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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93