Sheikh Faisal Bin Qassim Al Thani Secures $235 Million Refinancing Loan For Crowne Plaza Hotel
790 7th Avenue
$235,000,000
$509/SF
Building Size
461,591 SF
Asset Type
Hotel
Closing
Oct 30, 2026
About this deal
AI
The property asset involved in the transaction is the Crowne Plaza Manhattan Times Square hotel, which is situated at 790 7th Avenue in the Midtown West market of Manhattan. This hotel spans a total area of 461,591 square feet and is part of a refinancing deal facilitated at a total loan amount of $235 million. The refinancing was secured through Fortress Investment Group.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $235,000,000
- Address: 790 7th Avenue
- Market: Midtown West, Manhattan
- Lender: Fortress Investment Group
- Landlord: Sheikh Faisal Bin Qassim Al Thani - Al Faisal Holding
- Loan Type: Refinance
Sheikh Faisal Bin Qassim Al Thani, representing Al Faisal Holding, is the key individual involved in this refinancing transaction, which aims to enhance the financial structure of the hotel asset located at 790 7th Avenue.
On the Map
$235,000,000
$509/SF
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93