Kash Group Acquires Hotel In Manhattan For $37M From Seller FelCor Lodging
SOLD
$37,000,000
New York
See Similar DealsHotel77,000 SF
Sold 07/17/2017
SOLD
Kash Group Acquires Hotel In Manhattan For $37M From Seller FelCor Lodging
237 Madison Avenue, New York, NY 10016
See Similar DealsHotel77,000 SF
Sold 07/17/2017
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$480
Total Square Footage:77,000 SF
Transaction Type:Sale
The Hotel located at 237 Madison Avenue in New York City, Manhattan, was sold on July 17th, 2017. The property was acquired by Kash Group and SHEL Capital LLC from the seller, FelCor Lodging, for a total price of $37,000,000. The hotel spans across 77,000 square feet, resulting in a price per square foot of $530. The transaction was facilitated by Jeffrey Davis, representing JLL.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $37,000,000
- Address: 237 Madison Avenue, New York
- Market: Manhattan
Kash Group and SHEL Capital LLC successfully purchased the hotel from FelCor Lodging. The deal was brokered by Jeffrey Davis from JLL. The hotel, located at 237 Madison Avenue in Manhattan's market, has a total area of 77,000 square feet. The transaction amount was $37,000,000, with a price per square foot of $530.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52
Is there something missing? Send suggestions