McSam Hotel Group obtained financing of $79M from Madison Realty Capital

McSam Hotel Group through the entity Sccq Rock Hotel LLC as borrower signed a loan agreement with lender Madison Realty Capital through the entity 25 West 51St Street 1 LLC valued at $79.0 million for 2 parcels, including the tax class commercial condominium unit (R5) at 25 West 51 Street in Plaza District. The deal closed on August 02, 2019 and was recorded on August 12, 2019.
The property contains a total of 91,588 square feet of built space.
The average loan per buildable square foot is $863.
The last time the property sold was August 25, 2016, for $94,125,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link