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290 Wild Avenue

Jaspinder Sandhu Acquires Hotel In Staten Island For $15.35M
SOLDHotel

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

Anudeep Gosal

Besen Partners

Broker

$197.8M

vol

17 deals

Broker

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