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GFI Capital’s Hotel Crisis in NYC | Real Estate News
GFI Capital, a major NYC hotel player, is in financial turmoil as one of its affiliates faces over $60 million in debt. A key Israeli bondholder is demanding the sale of two prime properties — the cash-flowing Beekman Hotel and underperforming Hotel Seville — to recover funds, proposing a $15 million upfront payment with higher interest and a two-year deferral. GFI must now bring in an advisor to manage the sales, while the broader trend of U.S. developers turning to Israeli bonds reveals mounting risks and past defaults. Bondholders vote next month — the fate of these iconic hotels hangs in…
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