Christopher Eng Wang Of Two Kings Real Estate Secures $76.5M Refinance Loan From Deutsche Bank For Hotel In Chelsea
121 West 26th Street
$76,500,000
$1,181/SF
Building Size
64,764 SF
Asset Type
Hotel
Closing
Jun 5, 2026
About this deal
AI
The asset involved in this transaction is a hotel property located at 121 West 26th Street in Chelsea, Manhattan. The property has a total square footage of 64,764 and a building square footage of 77,712. The transaction involves a refinancing amount of $76,500,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $76,500,000
- Address: 121 West 26th Street
- Market: Chelsea, Manhattan
- Lender: Deutsche Bank
- Landlord: Christopher Eng Wang - Two Kings Real Estate
The refinancing transaction was facilitated through Two Kings Real Estate via Tulip Hotels LLC, which obtained the loan through Deutsche Bank in collaboration with German American Capital Corporation.
On the Map
$76,500,000
$1,181/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93