MCR Development Acquires Hotel In Grand Central For $40.8M
44 W 44th St, New York, NY 10036, USA
$40,840,000
$39/SF
Building Size
1,037,240 SF
Asset Type
Other
Closing
Sep 3, 2020
About this deal
AI
The hotel located at 44 West 44th Street in the Grand Central market has recently been sold. The property, spanning 103,724 square feet, was sold for a total price of $40,840,000, resulting in a price per square foot of $393. The zoning designation for the property is C6-4.5, MiD, and the tax class is 4. It is worth noting that the property was previously sold for $53,000,000 in August 2017.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $40,840,000
- Square Footage: 103,724
- Price per Square Foot: $393
- Zoning: C6-4.5, MiD
- Tax Class: 4
- Last Sale Price: $53,000,000 (8/2017)
The buyer of the property is MCR Development, while the sellers are Rockport Group and Highgate Holdings.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Deal FAQ
Browse New York other sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93