Quadrum Global Acquires Brooklyn Hotel On Wythe Avenue For $96M
96 Wythe Avenue, Brooklyn, New York 11249, United States
$96,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 11, 2023
About this deal
AI
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.
On the Map
$96,000,000
Hotel
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Players
Brooklyn 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93