Emmut Properties Acquires 45 West 81st Street Hotel On Upper West Side For $80M
45 West 81st Street
$80,000,000
$600/SF
Building Size
133,202 SF
Asset Type
Hotel
Closing
Dec 29, 2021
About this deal
AI
Located in the Upper West Side, the property at 45 West 81st Street has recently changed ownership. The transaction, which took place on December 29, 2021, involved the sale of a hotel asset. The property spans approximately 133,202 square feet and was purchased for a price of $80,000,000, equating to a price per square foot of $600. The deal included 215 keys, with an average price per key of $372,093.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $80,000,000
- Address: 45 West 81st Street
- Market: Upper West Side
The buyer in this transaction was Emmut Properties, represented by John Young. On the other side, the seller was Harry Krakowski. The deal showcases the involvement of key individuals in bringing about the successful sale of the hotel property.
On the Map
$80,000,000
$600/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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93