Nick Patel Of Brightpath Management Acquires Hotel From Alexander DelMonte Of DelMonte Hotel Group For $9.75M
168 Wolf Road
$9,750,000
Building Size
—
Asset Type
Hotel
Closing
Sep 29, 2025
About this deal
AI
The property involved in this transaction is a 78-room Fairfield Inn & Suites located at 168 Wolf Road in Albany. The sale was finalized at a transaction amount of $9,750,000, resulting in a price per key of $125,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $9,750,000
- Buyer: Nick Patel - Brightpath Management
- Seller: Alexander DelMonte - DelMonte Hotel Group
- Broker: Mayank Patel - Hunter Hotel Advisors
- Keys: 78
- PPK: $125,000
Nick Patel, representing Brightpath Management, aims to expand their hospitality portfolio, which currently includes 16 hotels. Alexander DelMonte, representing DelMonte Hotel Group, completed this sale to focus on other ventures. The deal was brokered by Mayank Patel from Hunter Hotel Advisors, a firm known for facilitating hotel transactions.
Players
Albany Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93