Union Investment Real Estate GmbH Acquires Property At 133 Greenwich St New York For $203.3M
133 Greenwich St, New York, NY, 10006
$203,300,000
Building Size
—
Asset Type
Hotel
Closing
Oct 1, 2017
AI
The transaction involves a hotel property, specifically the Courtyard Marriott located at 133 Greenwich St, New York, NY, 10006. The sale was completed for a total of $203,300,000.00. The property was delivered in early 2016 and stands at 31 stories, although the square footage is not specified.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $203,300,000.00
- Address: 133 Greenwich St, New York, NY, 10006
- Market: New York
- Buyer: Union Investment Real Estate GmbH
- Seller: Hidrock Properties
- Seller's Representative: Adam Etra (Newmark)
Union Investment Real Estate GmbH, a subsidiary of German DZ Bank Group, purchased the property. Eastdil Secured's Adam Etra represented the seller, Hidrock Properties, in this significant real estate transaction.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93