NEW YORK CITY-The City Club Hotel's owners, led by Jeffrey Klein, Stephen Brighenti and Russell Hernandez, have secured a $36-million loan from Starwood Property Trust. The owners have plans to use nearly $13 million to add 66 rooms at the 55 W. 44th St. property.
City Club Hotel LLC, the hotel owner, obtained $23 million to pay off $22 million mortgage held by Column Financial Inc. and a $13-million construction loan for expansion. The loan was arranged by Cushman & Wakefield Sonnenblick Goldman. For the full story, go to Wall Street Journal .
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