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Claremont Companies Refinances Hotel At 181 Varick Street With $56.5 Million Loan From City National Bank

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FINANCED
$56,500,000

New York

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Hotel52,155 SF
Financed 05/22/2026
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Property Image
FINANCED

Claremont Companies Refinances Hotel At 181 Varick Street With $56.5 Million Loan From City National Bank

181 Varick Street

See Similar Deals
Hotel52,155 SF
Financed 05/22/2026
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$1,083
Total Square Footage:52,155 SF
Transaction Type:Loan

The asset involved in this transaction is a hotel located at 181 Varick Street in the Hudson Square area of Manhattan. The hotel has a total square footage of 52,155. Claremont Companies refinanced the Courtyard by Marriott New York Manhattan/SoHo hotel with a loan amount of $56,500,000 from City National Bank.

Summary of transation details:

  • Property Type: Hotel
  • Transaction Amount: $56,500,000
  • Loan Type: Refinance
  • Lender: City National Bank
  • Landlord: Patrick Carney - Claremont Companies
  • Previous Debt: $35,000,000 from Thrivent
  • Closing Date: May 22, 2026
  • Recording Date: June 2, 2026

The refinancing was facilitated through Soho Hotel LLC, representing Claremont Companies. This transaction replaces prior debt while maintaining the hotel's operational capital.

Players

City National Bank
City National Bank
LENDER

Details

FINANCED
IMAGE: Patrick Carney DATE: 05/22/2026 ADDRESS: 181 Varick Street MARKET: Hudson Square, Manhattan ASSET TYPE: Hotel ~ SF: 52,155 LENDER: City National Bank (@CityNationalBank) LANDLORD: Patrick Carney - Claremont Companies LOAN AMOUNT: $56,500,000 LOAN TYPE: Refinance NOTE: Claremont Companies through Soho Hotel LLC refinanced the Courtyard by Marriott New York Manhattan/SoHo hotel at 181 Varick Street with a $56.5 million loan from City National Bank, closing May 22 and recorded June 2, replacing $35 million in prior debt held by Thrivent.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$56,500,000.00

Monthly NOI$376,666.67
Monthly Debt Service$357,118.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00