facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Other

/

Loan

/

50 Central Park S, New York...

Westbrook Partners Refinances Hotel At 50 Central Park South For $280M
FINANCEDOther

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

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

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.

Players

Sush Torgalkar

Sagehall

Broker

$80M

vol

2 deals

Broker
Delaware Life Insurance Company
Delaware Life Insurance CompanyLender
Sush Torgalkar

Sush Torgalkar

Westbrook Partners

Landlord

$80M

vol

2 deals

Landlord

New York Other Market Snapshot

Boundary boundary · Other · Loan transactions

Loading comparables…

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