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Four Seasons Is Refinanced for $100M

NEW YORK CITY-The famed five-star hotel is refinanced to the tune of $100 million. The 57th Street landmark is 520,061 sf and has 368 rooms.

By Barbara Jarvie | Updated on April 21, 2005

NEW YORK CITY-Hotel 57 LLC received $100 million for the refinancing of the luxury New York Four Seasons hotel. The ownership received interim, floating-rate financing for the 520,061-sf five-star hotel. Situated on 1.6 acres at 57 East 57th St., the Four Seasons has 368 rooms.

GMAC Commercial Mortgage Corp.’s hospitality industry division arranged and underwrote the transaction. Bruce Lowrey, senior vice president, hospitality industry division, explains the reason for the financing at this time. “Savvy Borrowers recognize that its good business to take advantage of low cost debt.”

Hotel amenities include the 60-seat Fifty Seven Fifty Seven restaurant, an 80-seat bar, a lounge and a full-service, 5,000-sf spa and fitness center, which includes a sauna, whirlpool and nine treatment rooms. Additional amenities include a business center, a clothing store and 9,584 sf of meeting space over nine rooms.

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