Premier Equities Acquires 182 Church St New York From Hersha Hospitality Trust For $18M
SOLD
$18,000,000
New York
See Similar DealsHotel
Sold 05/18/2021
SOLD
Premier Equities Acquires 182 Church St New York From Hersha Hospitality Trust For $18M
182 Church St, New York, NY, 10013
See Similar DealsHotel
Sold 05/18/2021
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
The transaction involved the sale of a property located at 182 Church St, New York, NY, 10013. The property was sold for $18,000,000.00 with a total square footage of 0. The market for this transaction is New York.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $18,000,000.00
- Seller: Hersha Hospitality Trust
- Buyer: Premier Equities
- Seller's Representative: Dan O’Brien-Cushman & Wakefield
The deal was facilitated by Dan O’Brien, who represented Hersha Hospitality Trust in the transaction. Premier Equities was the buyer involved in this sale, marking a significant transaction in the New York market.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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