GFI refis Beekman Hotel with $181M loan

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Many lenders specialise in business finance that is applied to guest houses, bed and breakfasts, and hotels. These lenders are able to provide different mortgage and loan packages, including remortgage options, to help borrowers raise the financing needed to either make a purchase or do refurbishments on their existing property.

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The loan to GFI Development Company and GB Lodging, subsidiaries of GFI Capital Resources Group, and their joint venture partner Elliot Management Company closed on May 8, according to public records.. 5 Beekman Street. (Photo by Nick Carr) The partners are converting a vacant office building at 5 Beekman Street into a 40-story, 287-room hotel with a 46-story, 68-unit condominium tower next.

GFI painstakingly restored the atrium-which was closed and shuttered since the 1940s-highlighting the original Victorian railings and balustrades and the encaustic tile floors. The Beekman is managed by Thompson Hotels and features 287 rooms, including features two duplex penthouses housed in the Beekman’s iconic crowning turrets