Manga Hotel Group Acquires 158-Key Chelsean New York Hotel From Lam Group For $50M
158 West 25th Street
$50,000,000
Building Size
—
Asset Type
Hotel
Closing
Aug 31, 2026
About this deal
AI
The 158-key Chelsean New York Hotel, located at 158-162 West 25th Street in Chelsea, Manhattan, has been sold for a total of $50 million. This hotel property transaction reflects a price per key of $316,456.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $50,000,000
- Buyer: Sukhdev Toor - Manga Hotel Group
- Seller: Jeffrey Lam - Lam Group
- Keys: 158
The transaction involved Sukhdev Toor representing Manga Hotel Group and Jeffrey Lam representing Lam Group, facilitating the sale of this hotel asset to a Canada-based buyer.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93