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17 John Street, Manhattan, ...

Updated Dec 4, 2024

Vanbarton Group Acquires Hotel In Financial District For $82.97M
SOLDHotel

Vanbarton Group Acquires Hotel In Financial District For $82.97M

17 John Street, Manhattan, New York, NY, USA

$82,973,495

$744/SF

Building Size

111,465 SF

Asset Type

Hotel

Closing

May 11, 2021

About this deal

AI

The Vanbarton Group has acquired a hotel property located at 17 John Street in the Financial District. The property is situated on a lot size of 10,060 square feet and has a building square footage of 111,465. The sale price for this transaction was $82,973,495, with a price per square foot of $744. The property was last sold on August 28, 2014, for a price of $85,300,000. The transaction also involved an alteration permit of type 2, issued on August 29, 2018. The dimensions of the lot are 77.58 feet by 135.83 feet. The property is zoned as C5-5 and LM, allowing for various uses.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $82,973,495
  • Market: Financial District
  • Address: 17 John Street
  • Buyer: Vanbarton Group
  • Seller: Prodigy Network & Shorewood Real Estate Group
  • Building Square Footage: 111,465
  • Price per Square Foot: $744
  • Last Sale Price: $85,300,000 (8/28/2014)
  • Permits: Alteration type 2 (08/29/2018)
  • Lot Size: 10,060
  • Lot Dimensions: 77.58 ft x 135.83 ft
  • Zoning: C5-5, LM

Richard Coles, Lawrence Davis & Garry Tischler represented the property in this transaction.

On the Map

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$82,973,495

$744/SF

Hotel

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Players

Vanbarton Group
Vanbarton GroupBrokerage
Vanbarton Group
Vanbarton GroupBuyer
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New York Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Deal FAQ

About $744 per square foot on a published $83M for 111,465 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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