Capstone Equities & Highgate Properties Acquire Nyma Hotel In Manhattan For $52M
6 West 32nd Street, New York, NY 10001
$52,000,000
$648/SF
Building Size
80,185 SF
Asset Type
Hotel
Closing
Aug 16, 2017
About this deal
AI
The Nyma Hotel located at 6 W 32nd Street in New York City, Manhattan, was recently sold in a closed transaction on 17th August, 2017. The property, classified as a hotel, was sold for a total price of $52,000,000. The hotel spans across a total square footage of 80,185, resulting in a price per square foot of $650.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $52,000,000
Apple Core Hotels acted as the seller in this transaction, while the buyers were Capstone Equities (Zamir, Adelipour, Ghadamian) and Highgate Properties. The deal was facilitated by JLL, with Kevin Davis, Dustin Stolly, and Jeff Davis from JLL representing the buyers.
On the Map
$52,000,000
$648/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93