Westbrook Partners Refinances Hotel At 50 Central Park South For $280M
50 Central Park S, New York, NY 10019, USA
$280,000,000
$49,795/SF
Building Size
5,623 SF
Asset Type
Other
Closing
Nov 28, 2020
About this deal
AI
Westbrook Partners, led by Sush Torgalkar, has refinanced their hotel asset located at 50 Central Park South. The transaction involved two lenders, Delaware Life Insurance Company and Korean lender Nonghyup Bank, with a total amount of $280,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $280,000,000
- Address: 50 Central Park South
- Landlord: Westbrook Partners – Sush Torgalkar
- Lender: Delaware Life Insurance Company & Korean lender Nonghyup Bank
Sush Torgalkar, representing Westbrook Partners, successfully refinanced the hotel asset at 50 Central Park South. The deal involved the participation of lenders Delaware Life Insurance Company and Korean lender Nonghyup Bank.
On the Map
$280,000,000
$49,795/SF
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93