SOLDHotel
Avi Philipson & Stephen Gorodetsky Acquire Brooklyn Hotel From All Year Holdings For $157M
111 North 12th Street, Brooklyn, New York 11249, United States
$157,000,000
Building Size
—
Asset Type
Hotel
Closing
May 24, 2022
AI
The Hotel located at 111 North 12th Street in Brooklyn has been sold in a transaction valued at $157,000,000. The sale took place on 05/25/2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $157,000,000
The buyers of the property are Avi Philipson and Stephen Gorodetsky. They acquired the Hotel from All Year Holdings. The transaction included 183 keys, with a price per key of $857,923.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93