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113 West 24th Street

Mocha 24th LLC Acquires Hotel From Robert A. Indeglia Jr For $168.6 Million In Chelsea
SOLDHotel

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

MG
Magna Hospitality GroupSeller

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