Jaspinder Sandhu Acquires Hotel In Staten Island For $15.35M
290 Wild Avenue
$15,350,000
$347/SF
Building Size
44,182 SF
Asset Type
Hotel
Closing
Dec 7, 2023
AI
Located at 290 Wild Avenue in Staten Island, this hotel property was recently sold in a transaction handled by Anudeep Gosal of Besen Partners. The buyer, Jaspinder Sandhu, acquired the property from Vinny Patel for a sale price of $15,350,000. The hotel spans an area of 44,182 square feet, resulting in a price per square foot of $347.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $15,350,000
- Address: 290 Wild Avenue, Staten Island
- Market: Staten Island
- Buyer: Jaspinder Sandhu
- Seller: Vinny Patel
- Broker: Anudeep Gosal - Besen Partners
- Square Footage: 44,182
- Price per Square Foot: $347
Anudeep Gosal of Besen Partners represented the buyer, Jaspinder Sandhu, in this hotel sale transaction. The involvement of the broker adds an additional layer of expertise and negotiation between the parties involved.
Players
Staten Island 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
1.03%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93