Premier Equities Acquires Hotel In TriBeCa For $18M
130 Duane Street, New York, NY 10013
$18,000,000
$1,031/SF
Building Size
17,452 SF
Asset Type
Hotel
Closing
May 12, 2021
About this deal
AI
Located at 130 Duane Street in TriBeCa, this hotel asset was recently sold in a transaction. The property spans across 17,452 square feet, with a price per square foot of $1,031. The sale price for the hotel was $18,000,000, resulting in a price per key of $418,604.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $18,000,000
- Address: 130 Duane Street
- Market: TriBeCa
The buyer, Premier Equities, acquired the hotel from the seller, Hersha Hospitality. The deal was facilitated by the brokers Dan O'Brien, Jared Kelso, Stephen Michels, and Maurice Suede from CushWake. Additionally, the hotel has a tenant, Sonder.
On the Map
$18,000,000
$1,031/SF
Hotel
View full map
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Visit Stephen (Steve) Michels to view all their deals.
Browse New York hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93