McSam Hotel Group Purchases 292 5th Ave From BD Hotels For $42.4M
SOLD
$42,400,000
New York
See Similar DealsHotel5,769 SF
Sold 03/30/2017
SOLD
McSam Hotel Group Purchases 292 5th Ave From BD Hotels For $42.4M
292 5th Ave, New York, NY, 10001
See Similar DealsHotel5,769 SF
Sold 03/30/2017
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$7,349
Total Square Footage:5,769 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 292 5th Ave, New York, NY, 10001. The property has a total square footage of 5769 and was sold for an amount of $42,400,000.00 within the New York market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $42,400,000.00
- Address: 292 5th Ave, New York, NY, 10001
- Market: New York
- SF: 5769
- Seller: BD Hotels
- Buyer: McSam Hotel Group
- Seller's Rep: John Ciraulo-Cushman & Wakefield
- Seller's Rep: Jonathan "Jon" Hageman-JLL
The transaction involved key individuals and companies including the seller BD Hotels and the buyer McSam Hotel Group. The seller was represented by John Ciraulo from Cushman & Wakefield and Jonathan "Jon" Hageman from JLL, who facilitated this deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,261,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$150,638.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$200,997.63
Annual Debt Service$2,411,971.58
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