McSam Hotel Group Sells Hotel In Chelsea For $147.4M
140 W 28th St, New York, NY 10001, Estados Unidos
$147,362,878
$67/SF
Building Size
2,171,360 SF
Asset Type
Other
Closing
Oct 25, 2020
About this deal
AI
The Hotel property located at 140 W. 28th St. in Chelsea was recently sold for a total price of $147,362,878. The property spans across 217,136 square feet, resulting in a price per square foot of $678. The seller of the property was McSam Hotel Group, represented by Sam Chang. The previous sale of the property took place in October 2016 for a price of $60,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $147,362,878
- Address: 140 W. 28th St.
- Market: Chelsea
- Property Size: 217,136 square feet
- Price per Square Foot: $678
- Seller: McSam Hotel Group - Sam Chang
- Last Sale Price: $60,000,000 (10/2016)
The successful transaction was facilitated by Sam Chang, representing McSam Hotel Group. This sale highlights the continued activity in the Chelsea market and the significant investment involved in the hotel asset.
On the Map
$147,362,878
$67/SF
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93