Apple Core Holdings Sells Murray Hill Hotel For $29.75M
SOLD
$29,750,000
New York
See Similar DealsIndustrial51,950 SF
Sold 12/29/2021
SOLD
Apple Core Holdings Sells Murray Hill Hotel For $29.75M
161 Lexington Avenue, New York City, New York 10016, United States
See Similar DealsIndustrial51,950 SF
Sold 12/29/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$572
Total Square Footage:51,950 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,695.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$141,030.18
Annual Debt Service$1,692,362.13
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