Towering 47 stories over Times Square, the Hilton hotel on West 42nd Street was already operating on the knife’s edge before the coronavirus pandemic ground New York City to a virtual standstill. The 476-key hotel had started to see expenses for its rooms and food-and-beverage component spike early last year. Cash flow got so tight that nearly every dollar of income as paying the debt service on the property’s $92 million mortgage. And that was
source https://therealdeal.com/2020/03/18/some-nyc-hotels-were-struggling-to-make-debt-payments-then-came-coronavirus/
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