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Henry Zavriyev Of Leyad And Joshua Zamir Of Capstone Equities Acquire Ink48 Hotel For $62.15M
SOLD
$62,150,000
New York
See Similar DealsHotel
Sold 12/13/2024
SOLD
Henry Zavriyev Of Leyad And Joshua Zamir Of Capstone Equities Acquire Ink48 Hotel For $62.15M
653 11th Avenue
See Similar DealsHotel
Sold 12/13/2024
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
The property asset involved in the transaction is the Ink48 Hotel, located at 653 11th Avenue in Hell’s Kitchen. The hotel features 226 keys, and the sale was completed for a total price of $62,150,000, which gives a per key price of $275,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $62,150,000
- Address: 653 11th Avenue - Ink48 Hotel
- Market: Hell’s Kitchen
- Keys: 226
- PPK: $275,000
The deal involved Canada-based Leyad, which entered into a 50/50 joint venture with Capstone Equities to acquire the Ink48 Hotel, marking their first purchase in New York City.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,314,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$220,805.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$294,622.71
Annual Debt Service$3,535,472.49
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