Lam Group's 6 Platt St Hotel In FiDi Acquired For $67.5M By Investors Bank
6 Platt St, New York, NY 10038, USA
$67,500,000
$6,808/SF
Building Size
9,914 SF
Asset Type
Other
Closing
Jul 18, 2019
About this deal
AI
The Lam Group has closed on the purchase of a hotel located at 6 Platt St in the Financial District (FiDi) market. The transaction was completed on July 19, 2019. The property, owned by Lam Group, was sold for a total of $67,500,000. The hotel is an asset type in the real estate market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $67,500,000
- Date: July 19, 2019
- Address: 6 Platt St
- Market: FiDi
The financing for this transaction was provided by Investors Bank. Jeffrey Lam and John Lam represented Lam Group in the deal as the company's representatives.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Deal FAQ
Browse New York other loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93