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Aareal Capital Refinances Victoria Tower Residences & Renaissance New York Harlem Hotel For $148M

Property Image
FINANCED
$148,000,000
Ari Hirt
Adam Schwartz
+ 3

New York

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Mixed-use301,000 SF
Financed 07/05/2024
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Property Image
FINANCED

Aareal Capital Refinances Victoria Tower Residences & Renaissance New York Harlem Hotel For $148M

230 West 125th Street

See Similar Deals
Mixed-use301,000 SF
Financed 07/05/2024
Ari Hirt
Adam Schwartz
+ 3
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$491
Total Square Footage:301,000 SF
Transaction Type:Loan

The mixed-use property located at Victoria Tower Residences & Renaissance New York Harlem Hotel, situated at 230 W 125th Street in South Harlem, spans a total of 301,000 square feet. The property is owned by Lam Group & Exact Capital and recently underwent a refinancing transaction.

Summary of transaction details:

The deal was facilitated by the broker team from Walker & Dunlop, composed of Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Ari Hirt, and William Herring, demonstrating their expertise in handling large-scale transactions within the South Harlem market.

Players

Aaron Appel
192 deals$32.1B volume
BROKER

Ari Hirt
Walker & Dunlop
28 deals$3.1B volume(301) 215-5500
BROKER

Jonathan Schwartz
Walker & Dunlop
167 deals$27.1B volume
BROKER

Keith Kurland
Walker & Dunlop
172 deals$29.3B volume
BROKER

Adam Schwartz
Walker & Dunlop
162 deals$25.6B volume(646) 491-8869
BROKER

William Herring
Walker & Dunlop
8 deals$1.1B volume
BROKER

Aareal Capital Corporation
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Ari Hirt & William Herring DATE: 07/05/2024 ADDRESS: Victoria Tower Residences & Renaissance New York Harlem Hotel - 230 W 125th Street MARKET: South Harlem ASSET TYPE: Mixed-use ~ SF: 301,000 LENDER: Aareal Capital Corporation LANDLORD: Lam Group (@LamGroupNYC) & Exact Capital BROKERS: Aaron Appel, Jonathan Schwartz (@Jschwa1386), Keith Kurland (@KaKurland), Adam Schwartz (@AdamSchwartz88), Ari Hirt & William Herring - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $148,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$148,000,000.00

Monthly NOI$986,666.67
Monthly Debt Service$935,460.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00