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
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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