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

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.