St. Giles Hotels Sells Grand Central Hotel In Manhattan For $50M
130 East 39th Street, New York City, New York 10016, United States
$50,000,000
$378,787/SF
Building Size
132 SF
Asset Type
Hotel
Closing
Apr 17, 2023
About this deal
AI
The hotel located at 130 East 39th Street in the Grand Central area of Manhattan has been sold for a transaction amount of $50,000,000. The property spans an area of 132,716 square feet, with a price per square foot of $377. The sale took place on December 30, 2022. St. Giles Hotels, represented by Joseph Sambuco, acted as the seller in this deal.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $50,000,000
- Address: 130 East 39th Street
- Market: Grand Central, Manhattan
- Keys: 203
- Price Per Key: $246,305
- Square Footage: 132,716
- Price Per Square Foot: $377
The seller of the property, St. Giles Hotels, was represented by Joseph Sambuco from the sales agency.
On the Map
$50,000,000
$378,787/SF
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93