Mocha 24th LLC Acquires Hotel From Robert A. Indeglia Jr For $168.6 Million In Chelsea
113 West 24th Street
$168,600,000
$1,089/SF
Building Size
154,812 SF
Asset Type
Hotel
Closing
Sep 30, 2025
AI
The transaction involved the sale of a hotel asset located at 113 West 24th Street, in Chelsea, Manhattan. The property is comprised of 154,812 square feet and was sold for a price of $168,600,000. The price per square foot for the transaction was $1,089, and the acquisition was financed with a loan of $105 million from Apollo Global Management.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $168,600,000
- Buyer: Mocha 24th LLC
- Seller: Robert A. Indeglia Jr - Magna Hospitality Group
- Loan Amount: $105 million
- Market: Chelsea, Manhattan
- Square Footage: 154,812
- Price per Square Foot: $1,089
Mocha 24th LLC was the buyer involved in this transaction, acquiring the hotel from Robert A. Indeglia Jr, who represented Magna Hospitality Group in the deal. This transaction underscores a significant movement within the hotel market in Chelsea, reflecting both the buyer's strategy and the actions of the seller.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93