Care For The Homeless Acquires Hotel In Chinatown For $16.5M
91 East Broadway, New York City, New York 10002, United States
$16,500,000
$434,210/SF
Building Size
38 SF
Asset Type
Hotel
Closing
Dec 29, 2022
About this deal
AI
A hotel located at 91 East Broadway in Chinatown has been sold for $16,500,000. The property has a total area of 38,961 square feet, resulting in a price per square foot of $424. The sale took place on December 29, 2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $16,500,000
- Address: 91 East Broadway
- Market: Chinatown
George Nashak, representing Care For the Homeless, acted as the buyer in the transaction. The seller was Glenn Lau-Kee. The deal was facilitated by Guthrie Garvin from JLL.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93