Extell Secures $140.8 Million Refinance From J.P. Morgan Chase For Hotel In Hell's Kitchen
740 8th Avenue, 732 8th Avenue Ne Wsyork, 732 8th Avenue New York & 732 8th Avenue
$140,800,000
$181/SF
Building Size
776,000 SF
Asset Type
Hotel
Closing
Sep 9, 2026
About this deal
AI
The property asset involved in the transaction is a hotel located at 740 8th Avenue and 732 8th Avenue in Hell’s Kitchen, Manhattan. The asset encompasses a total built space of 776,000 square feet and has recently secured a refinancing loan of $140,800,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $140,800,000
- Lender: J.P. Morgan Chase
- Landlord: Gary Barnett - Extell
- Market: Hell’s Kitchen, Manhattan
This deal was facilitated by Extell Development, which is led by landlord Gary Barnett, who played a significant role in securing the refinancing from J.P. Morgan Chase for the hotel property.
Players
Avenue Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Visit Gary Barnett to view all their deals.
Browse New York hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93