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KK Shankar Mahadev Corp Sells Hotel On Wild Avenue In New York City For $12.45M

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SOLD
$12,450,000

New York

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Hotel36,808 SF
Sold 12/23/2022
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SOLD

KK Shankar Mahadev Corp Sells Hotel On Wild Avenue In New York City For $12.45M

300 Wild Avenue

See Similar Deals
Hotel36,808 SF
Sold 12/23/2022
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Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$338
Total Square Footage:36,808 SF
Transaction Type:Sale

The Hotel located at 300 Wild Avenue in New York City has been sold for a price of $12,450,000. The property, owned by K.K. Shankar Mahadev Corp and represented by Sanjay Patel & Shailesh Kumar, was listed and sold by Anudeep Gosal of Besen Partners. The hotel spans across 36,808 square feet, with a price per square foot of $338. It includes 95 keys, resulting in a price per key of $131,052.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $12,450,000
  • Address: 300 Wild Avenue
  • Market: New York City
  • Seller: K.K. Shankar Mahadev Corp - Sanjay Patel & Shailesh Kumar
  • Broker: Anudeep Gosal - Besen Partners
  • Total Square Footage: 36,808
  • Price per Square Foot: $338
  • Number of Keys: 95
  • Price per Key: $131,052

The sale of the hotel was facilitated by Anudeep Gosal of Besen Partners, who represented the seller, K.K. Shankar Mahadev Corp, and the buyers in this transaction. The deal demonstrates the expertise and successful negotiation skills of the parties involved.

Players

Anudeep Gosal
17 deals$197.8M volume
BROKER

Sanjay Patel
9 deals$99.8M volume
SELLER

Sanjay Patel
9 deals$99.8M volume
SELLER

Details

SOLD
IMAGE: Anudeep Gosal DATE: 12/23/2022 ADDRESS: 300 Wild Avenue MARKET: New York City ASSET TYPE: Hotel SELLER: K.K. Shankar Mahadev Corp - Sanjay Patel & Shailesh Kumar BROKER: Anudeep Gosal (@Anudeepgosal) - Besen Partners (@BesenPartners) SALE PRICE: $12,450,000 SF: 36,808 ~ PPSF: $338 KEYS: 95 ~ PPK: $131,052

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$664,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,232.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,019.35
Annual Debt Service$708,232.22