MSD Partners Acquires $105M Hotel Note From JPMorgan Chase Bank
45 E 45th St, New York, NY 10017, USA
$105,000,000
$17/SF
Building Size
5,981,530 SF
Asset Type
Other
Closing
Jun 7, 2020
AI
MSD Partners, founded by Michael Dell, has acquired a hotel in the Grand Central market for a price of $105,000,000. The property, located at 45 East 45th Street, spans a total area of 598,153 square feet. The purchase price per square foot is estimated at $175. The seller in this transaction is JPMorgan Chase Bank.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $105,000,000
- Address: 45 East 45th Street
- Market: Grand Central
- Square Footage: 598,153
- Price per Square Foot: $175
- Buyer: MSD Partners - Michael Dell
- Seller: JPMorgan Chase Bank
It is worth mentioning that MSD Partners purchased a $105M note directly from JPMorgan Chase Bank, securing the property as an investment asset.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93