KSL Capital Partners Acquires Montauk Hotel From Bridgeton Holdings For $78.5M
21 Oceanview Terrace, Montauk, New York 11954, United States
$78,500,000
Building Size
—
Asset Type
Hotel
Closing
May 25, 2022
About this deal
AI
21 Oceanview Terrace, located in Montauk, has been sold for $78,500,000 in a recent transaction. The property, which is a hotel, was sold by Bridgeton Holdings and purchased by KSL Capital Partners. Eric Resnick represented KSL Capital Partners in the deal, while Atit Jariwala represented Bridgeton Holdings.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $78,500,000
- Address: 21 Oceanview Terrace, Montauk
- Buyer: KSL Capital Partners - Eric Resnick
- Seller: Bridgeton Holdings - Atit Jariwala
The deal involved notable individuals and companies. Eric Resnick from KSL Capital Partners represented the buyer's side, while Atit Jariwala acted as the representative for Bridgeton Holdings. This transaction showcases the active real estate market in Montauk.
On the Map
$78,500,000
Hotel
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Players
Montauk 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93