Cronheim Mortgage Arranges $47M Loan for Refinancing of Manhattan Hotel

by Taylor Williams

NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $47 million loan for the refinancing of Hyatt House New York, a 150-room hotel in Manhattan’s Chelsea neighborhood. Beau Williams of Cronheim’s hospitality capital markets group led a team that arranged the five-year, fixed-rate loan on behalf of the borrower, locally based investment firm Lexin Capital. An undisclosed, New York-based bank provided the debt.

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