Boris Aronov Of Aronov Development Acquires $44.5M Note Secured By Hotel In Midtown Manhattan
59 West 46th Street
$44,500,000
Building Size
—
Asset Type
Note / Loan
Closing
Jun 25, 2025
AI
A note secured by the Hotel @Times Square located at 59 West 46th Street in Midtown West, Manhattan has been involved in this transaction. The asset is secured by a loan amount of $44,500,000.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $44,500,000
- Buyer: Boris Aronov - Aronov Development
- Seller: Issac Hera - Yellowstone Real Estate Investments
- Address: 59 West 46th Street
- Market: Midtown West, Manhattan
Boris Aronov, representing Aronov Development, acquired the note from Issac Hera, who represented Yellowstone Real Estate Investments, adding a financial interest to the hotel located at the transaction address.
Players
New York Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93