KSL Capital Partners Acquires Montauk Hotel From Bridgeton Holdings For $78.5M
SOLD
New York
See Similar DealsHotel
Sold 05/26/2022
SOLD
KSL Capital Partners Acquires Montauk Hotel From Bridgeton Holdings For $78.5M
21 Oceanview Terrace, Montauk, New York 11954, United States
See Similar DealsHotel
Sold 05/26/2022
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$278,893.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$372,130.05
Annual Debt Service$4,465,560.59
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