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.
On the Map
$67,500,000
$6,808/SF
Other
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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