DiamondRock Hospitality Company obtained financing of $51M from Wells Fargo Bank, National Association

DiamondRock Hospitality Company through the entity Diamondrock East 40Th Street NYC Owner, LLC as borrower signed a loan agreement with lender Wells Fargo Bank, National Association valued at $51.0 million for 1 parcel, including the tax class transient occupancy hotel in midtown Manhattan area (H3) at 3 East 40 Street in Grand Central. The deal closed on July 25, 2019 and was recorded on August 01, 2019.
The property contains a total of 84,500 square feet of built space.
The average loan per buildable square foot is $604.
The last time the property sold was December 20, 2004, for $33,375,000.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $1,634,476.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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