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59 West 46th Street

Boris Aronov Of Aronov Development Acquires $44.5M Note Secured By Hotel In Midtown Manhattan
SOLDNote / Loan

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

YI
Yellowstone Real Estate InvestmentsSeller

New York Note / Loan Market Snapshot

Boundary boundary · Note / Loan · Sale transactions

Loading comparables…

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