Two Kings Real Estate Acquires Chelsea Hotel For $80.3M
125 West 26th Street, New York City, New York 10001, United States
$80,300,000
$1,239/SF
Building Size
64,764 SF
Asset Type
Hotel
Closing
Jun 27, 2022
About this deal
AI
The hotel located at 125 West 26th Street in Chelsea has been sold in a transaction valued at $80,300,000. The property spans an area of 64,764 square feet, resulting in a price per square foot of $1,240. The sale took place on 06/28/2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $80,300,000
- Address: 125 West 26th Street
- Market: Chelsea
- Square Footage: 64,764
- Price per Square Foot: $1,240
The buyer of the property is Two Kings Real Estate, while the sellers are Watermark Lodging Trust and Watermark Capital Partners. The transaction was completed with the involvement of their respective representatives.
On the Map
$80,300,000
$1,239/SF
Hotel
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New York Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93