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Giampietro Baudo Of Generation Essentials Group Acquires Hotel In Tribeca For $69M
SOLD
New York
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Sold
SOLD
Giampietro Baudo Of Generation Essentials Group Acquires Hotel In Tribeca For $69M
39 6th Avenue
See Similar DealsHotel
Sold
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
The asset involved in this transaction is a hotel located at 39 6th Avenue in the Tribeca market. The hotel consists of 151 keys and was sold for $69,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $69,000,000
- Buyer: Giampietro Baudo - Generation Essentials Group
- Seller: Neil H. Shah - Hersha Hospitality Trust & Eric Resnick - KSL Capital Partners
- Advising Company: Eastdil Secured
The transaction included the acquisition of the Hilton Garden Inn by Generation Essentials Group from Hersha Hospitality Trust and KSL Capital Partners. The sale was completed on 03/11/2026.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$245,142.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$327,095.20
Annual Debt Service$3,925,142.43
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