Benefit Street Partners L.L.C. (BSP) has successfully closed a $120 million senior loan and a $15 million mezzanine loan for the refinancing of the Empire Hotel, located at 44 W. 63rd St. on Manhattan’s Upper West Side. Originally built in 1901, the property underwent an extensive renovation in 2013.
The loans were allocated across BSP’s commercial real estate platform, with a portion going to Franklin BSP Realty Trust, Inc.
According to Michael Comparato, head of commercial real estate for BSP: “The addition of the Empire Hotel to our portfolio is a strategic move that highlights our platform’s ability to provide borrowers with flexibility and value. We are excited about taking advantage of other unique opportunities within the real estate market through 2025.”
