Capstone Equities Acquires W Hotel New York For $190M From Host Hotels' CEO James F Risoleo
541 Lexington Ave, New York, NY 10022, USA
Building Size
24,725 SF
Asset Type
Other
Closing
May 3, 2018
About this deal
AI
The W Hotel New York, located at 541 Lexington Avenue in Manhattan, has been sold in a closed transaction. The hotel features 697 rooms and has been a prominent asset in the hospitality industry.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $190,000,000
- Address: 541 Lexington Avenue, New York
- Market: Manhattan
The seller of the W Hotel New York is Host Hotels, with James F Risoleo serving as the CEO. On the buyer side, Capstone Equities, represented by Joshua Zamir, Justin Adelipour, and Daniel Ghadamian, acquired this prestigious property.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93