Reliance Industries Acquires Mandarin Oriental New York Hotel In Manhattan For $195.2M
80 Columbus Cir, New York, NY 10023, United States
$195,164,200
$915/SF
Building Size
213,125 SF
Asset Type
Hotel
Closing
May 11, 2023
About this deal
AI
Reliance Industries, led by Indian billionaire Mukesh Ambani, has acquired a 73.37 percent stake in the Mandarin Oriental New York hotel at 80 Columbus Circle in Manhattan for $195.2 million. The purchase was made through Reliance Strategic Business Ventures Limited from the Investment Corporation of Dubai.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $195,164,200
- Address: 80 Columbus Circle, Lincoln Square, Manhattan
- Square Feet: 213,125
- Price per Square Foot: $916
- Market: Lincoln Square, Manhattan
The buyer, Reliance Industries, represented by Mukesh Ambani, acquired the majority stake in the Mandarin Oriental New York hotel. The seller, Investment Corporation of Dubai, facilitated the transaction. The deal was brokered by JLL.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93