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161 Lexington Avenue, New Y...

Apple Core Holdings Sells Murray Hill Hotel For $29.75M
SOLDIndustrial

Apple Core Holdings Sells Murray Hill Hotel For $29.75M

161 Lexington Avenue, New York City, New York 10016, United States

$29,750,000

$572/SF

Building Size

51,950 SF

Asset Type

Industrial

Closing

Dec 29, 2021

AI

An hotel located at 161 Lexington Ave in Murray Hill has been sold for $29,750,000. The property spans a total of 51,953 square feet, resulting in a price per square foot of $572. The transaction took place on December 29, 2021.

Summary of transation details

  • Property Type: Hotel
  • Transaction Amount: $29,750,000
  • Address: 161 Lexington Ave.
  • Market: Murray Hill
  • Square Footage: 51,953
  • Price per Square Foot: $572

The seller of the hotel was Apple Core Holdings, represented by David Miller. The sale was facilitated by Brandon Thomas, Scott Dweck, and Jeff Karp from Latitude Property Group.

Players

Brandon Thomas

Latitude Property Group

Broker

$165.7M

vol

13 deals

Broker
AH
Apple Core HoldingsSeller

New York Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93