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
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.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93