Premier Equities Acquires Hotel In TriBeCa For $18M
SOLD
$18,000,000
+ 1
New York
See Similar DealsHotel17,452 SF
Sold 05/13/2021
SOLD
Premier Equities Acquires Hotel In TriBeCa For $18M
130 Duane Street, New York, NY 10013
See Similar DealsHotel17,452 SF
Sold 05/13/2021
+ 1
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$1,031
Total Square Footage:17,452 SF
Transaction Type:Sale
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.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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