Quadrum Global Acquires Brooklyn Hotel On Wythe Avenue For $96M
SOLD
$96,000,000
New York
See Similar DealsHotel
Sold 01/12/2023
SOLD
Quadrum Global Acquires Brooklyn Hotel On Wythe Avenue For $96M
96 Wythe Avenue, Brooklyn, New York 11249, United States
See Similar DealsHotel
Sold 01/12/2023
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
Quadrum Global has acquired a hotel property located at 96 Wythe Avenue in Brooklyn. The sale, which took place on January 12, 2023, involved a transaction worth $96,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $96,000,000
- Address: 96 Wythe Avenue
- Market: Brooklyn
- Buyer: Quadrum Global
- Seller: Toby Moskovits & Heritage Equity Partners
- Key Individuals: Oleg Pavlov (Buyer Representative), Toby Moskovits (Seller), and Michael Lichtenstein (Seller Representative)
- Keys: 147
- Price Per Key: $653,061
Oleg Pavlov, representing Quadrum Global, facilitated the purchase of the property from Toby Moskovits and Heritage Equity Partners, with Michael Lichtenstein serving as their representative in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,119,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$341,067.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$455,088.98
Annual Debt Service$5,461,067.72
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