Barclays Provides $120M Loan For 1HotelBK In Brooklyn Heights
60 Furman St, Brooklyn, NY 11201, USA
$120,000,000
$807/SF
Building Size
148,616 SF
Asset Type
Other
Closing
Nov 6, 2019
About this deal
AI
The 1Hotel Brooklyn Bridge, located at 60 Furman Street in Brooklyn Heights, has been involved in a closed transaction. The hotel, owned by Starwood Capital and developed by Barry Sternlicht, has attracted attention in the market. The transaction included a loan amount of $120 million provided by Barclays. The hotel spans a total area of 148,616 square feet.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $120M
- Address: 60 Furman Street, Brooklyn Heights
- Market: Brooklyn Heights
- Lender: Barclays
- Landlord: Starwood Capital
- Square Footage: 148,616 SF
This transaction showcases the collaboration between Starwood Capital, as the landlord, and Barclays, as the lender. Barry Sternlicht, representing the developer, played a key role in the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93