Benzion Lebovits Acquires Long Island City Hotel For $34.75M
37-06 36th St Long Island City, NY 11101, USA
$34,750,000
$433/SF
Building Size
80,200 SF
Asset Type
Hotel
Closing
Aug 8, 2023
AI
The hotel located at 37-06 36th Street in Long Island City has been sold. The transaction took place on August 8, 2023, for a total sale price of $34,750,000. The hotel spans a total area of 80,200 square feet and has a price per square foot of $433.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $34,750,000
- Address: 37-06 36th Street, Long Island City
- Square Footage: 80,200
- Price per Square Foot: $433
The buyer of the hotel is Benzion Lebovits. Representing the buyer in this transaction is Abe Wurzberger from SPR Group.
New York Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93