Shai Shamir Acquires Downtown Brooklyn Hotel For $29.7M
40 Nevins Street, Downtown Brooklyn, Brooklyn, NY, USA
$29,700,000
$347/SF
Building Size
85,382 SF
Asset Type
Hotel
Closing
Nov 1, 2021
About this deal
AI
A Hotel located at 40 Nevins Street in Downtown Brooklyn has been sold for $29,700,000. The property spans 85,382 square feet with a price per square foot of $347. The transaction took place on 11/01/2021. The previous sale of the hotel occurred on 11/2013 for $19,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $29,700,000
- Address: 40 Nevins Street
- Market: Downtown Brooklyn
- Square Footage: 85,382
- Price Per Square Foot: $347
- Last Sale Price: $19,000,000 (11/2013)
The buyer of the hotel is Shai Shamir. No further details about the buyer's representation or any other parties involved in the transaction are available.
On the Map
$29,700,000
$347/SF
Hotel
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New York 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93