Navika Capital Acquires Hotel At 75 Wall Street In Financial District For $85M
75 Wall Street, New York City, New York 10005, United States
$85,000,000
$386/SF
Building Size
220,000 SF
Asset Type
Hotel
Closing
Dec 30, 2021
AI
The Hotel located at 75 Wall Street in the Financial District has been sold for a price of $85,000,000. The property spans across 220,000 square feet, resulting in a price per square foot of $386. The transaction took place on December 30, 2021.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $85,000,000
- Address: 75 Wall Street
- Market: Financial District
Navika Capital has acquired the Hotel from the Hakimian Organization. The deal was facilitated by Michael Steinberg from Empire Business Mgmt acting as the broker.
Players
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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93