Benefit Street Closes $135M Refi Package for Empire Hotel

Benefit Street Closes $135M Refi Package for Empire Hotel

Benefit Street Partners L.L.C. (BSP) closed a $120-million senior loan and a $15-million mezzanine loan for the refinancing of the Empire Hotel. The Empire Hotel is a 427-key hotel located at 44 W. 63rd St. on Manhattan’s Upper West Side. The property was built in 1901 and underwent a comprehensive renovation in 2013.

BSP allocated the loans across its commercial real estate platform, including a portion to Franklin BSP Realty Trust, Inc.

Michael Comparato, head of commercial real estate for BSP, said: “The Empire Hotel represents a strategic addition to our commercial real estate portfolio, showcasing the flexibility and value that our platform delivers to borrowers. We look forward to capitalizing on additional unique opportunities within the real estate market throughout 2025.”

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