Henry And Sherry Xu Zheng Acquire Midtown East Hotel For $17.5M
152 East 55th Street, New York City, New York 10022, United States
$17,500,000
$957/SF
Building Size
18,281 SF
Asset Type
Hotel
Closing
Aug 15, 2022
AI
The property asset involved in this transaction is a hotel located at 152 East 55th Street in Midtown East. The sale took place on 08/16/2022, with a sale price of $17,500,000. The hotel has a total area of 18,281 square feet, resulting in a price per square foot of $957.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $17,500,000
- Address: 152 East 55th Street
- Market: Midtown East
The buyers in this transaction are Henry Zheng & Sherry Xu Zheng, while the seller is Alfredo V. Pedro.
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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93