Centurion Realty’s Gansevoort Park Hotel at 420 Park Avenue South in the Flatiron District has received $160 million in refinancing from Citigroup and Redwood Trust, GlobeSt.com reported. The deal stipulates that Citigroup refinance the hotel for $140 million and Redwood refinance the debt for $20 million.
Abe Katz, a managing partner at Deerwood Real Estate Capital, who arranged the refinance transaction, said it was not difficult to find willing lenders for the two-year-old, 20-story, 249-room hotel. “We found that a lot of lenders felt very good about that market and hotel market in New York City,” he told GlobeSt.com
As previously reported, Kim Kardashian and ex-husband Kris Humphries of New Jersey Nets fame moved into the hotel’s $7,000-per-night penthouse while Kardashian shot a season of “Kourtney & Kim.” In addition, co-owner of the Hotel Gansevoort properties Arik Kislin allegedly helped lead a financial organization with close ties to the Russian mob. In 2001, Kislin partnered with the Achenbaum family to develop the Gansevoort Hotel, starting with the Meatpacking district location. [GlobeSt]