Hangang Asset Management Lends $133M For Chetrit Group Hotel At 500 Metropolitan Ave In Williamsburg
500 Metropolitan Ave, Brooklyn, NY 11211, USA
$133,000,000
$547/SF
Building Size
243,156 SF
Asset Type
Other
Closing
Jun 3, 2019
About this deal
AI
A hotel located at 500 Metropolitan Ave in Williamsburg has been sold in a closed transaction. The property, owned by Chetrit Group, was acquired for a loan amount of $133,000,000. The deal was facilitated by Galaxy Capital Group, represented by Henry Bodek. The hotel features 187 keys and is situated in the vibrant Williamsburg market.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $133,000,000
- Address: 500 Metropolitan Ave
- Market: Williamsburg
- Lender: Hangang Asset Mgmt
- Landlord: Chetrit Group
- Broker: Galaxy Capital Group – Henry Bodek
- Keys: 187
The hotel transaction was financed by Hangang Asset Management. The involvement of Galaxy Capital Group, represented by Henry Bodek, highlights the role of the brokerage firm in the deal. This successful transaction demonstrates the robust real estate market in Williamsburg.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Deal FAQ
Visit Henry Bodek to view all their deals.
Browse New York other loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93