Ian Ross Of SomeraRoad Acquires Hotel Bossert In Brooklyn From Carl Goldsmith For $100M
98 Montague Street
$100,000,000
Building Size
—
Asset Type
Hotel
Closing
May 28, 2025
About this deal
AI
The transaction involved the sale of a hotel asset located at 98 Montague Street in Brooklyn. The property was sold for a total of $100,000,000. The asset type is classified as a hotel.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $100,000,000
- Buyer: Ian Ross - SomeraRoad
- Seller: Carl Goldsmith - Beach Point Capital
- Date of Transaction: 05/28/2025
Ian Ross represented SomeraRoad in acquiring the property, which was previously owned by another entity before Beach Point Capital foreclosed on those owners. Carl Goldsmith represented Beach Point Capital in the sale of the property.
On the Map
$100,000,000
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93