Benefit Street Partners L.L.C. (BSP) has successfully completed the refinancing of the Empire Hotel, located at 44 W. 63rd St on Manhattan’s Upper West Side, with a total loan package of $135 million. This includes a senior loan of $120 million and a mezzanine loan of $15 million.
Originally built in 1901, the Empire Hotel underwent an extensive renovation in 2013 to become one of New York City’s premier hotels with its impressive collection of 427 rooms.
The loans were allocated across BSP’s commercial real estate platform, including Franklin BSP Realty Trust Inc., demonstrating our ability to provide flexible and valuable solutions for borrowers.
According to Michael Comparato, head of commercial real estate for BSP: “We are excited about adding the Empire Hotel to our portfolio as it showcases our platform’s strength and versatility in meeting borrower needs. We remain committed to seizing unique opportunities within the real estate market through at least year-end.”
