Jay Sugarman & Marcos Alvarado - Safehold Inc. Acquires Hotel In Nomad For $77.5M
SOLD
$26,500,000
New York
See Similar DealsHotel50,150 SF
Sold 07/27/2021
SOLD
Jay Sugarman & Marcos Alvarado - Safehold Inc. Acquires Hotel In Nomad For $77.5M
32 West 29th Street, Manhattan, New York, NY, USA
See Similar DealsHotel50,150 SF
Sold 07/27/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$528
Total Square Footage:50,150 SF
Transaction Type:Sale
1170 Broadway, located in the Nomad market, was sold in a note sale transaction. The property is a hotel with a total area of 112,608 square feet. The sale price for the property amounted to $77,456,250, resulting in a price per square foot of $687.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $77,456,250
- Address: 1170 Broadway
- Market: Nomad
- Square Footage: 112,608
- Price per Square Foot: $687
The buyer in this transaction was Jay Sugarman & Marcos Alvarado, representing Safehold Inc. The seller was Haddad Brands.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
Is there something missing? Send suggestions