Navika Capital Acquires Hotel At 75 Wall Street In Financial District For $85M
SOLD
$85,000,000
New York
See Similar DealsHotel220,000 SF
Sold 12/30/2021
SOLD
Navika Capital Acquires Hotel At 75 Wall Street In Financial District For $85M
75 Wall Street, New York City, New York 10005, United States
See Similar DealsHotel220,000 SF
Sold 12/30/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$386
Total Square Footage:220,000 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.38
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