Gansevoort Secures $160M For Park Ave. Hotel Refi
The transaction includes the hotel's original $140 million mortgage, refinanced by Citigroup, and $20 million in mezzanine debt refinanced by Redwood, according to Deerwood co-founder Abe Katz. The 10-year, fixed-rate loan will be used to pay off construction costs incurred before the hotel opened in 2010.
“Given the state of the market and...
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