BentallGreenOak's Sonny Kalsi Secures Capital One Refinance For 394 Unit Sutton Place Multifamily
420 East 54th Street
$241,000,000
$540/SF
Building Size
445,735 SF
Asset Type
MultiFamily
Closing
Jul 30, 2025
AI
The asset is a multifamily tower at 420 East 54th Street in Sutton Place, Manhattan, totaling 445,735 square feet across 394 units. The financing involves a refinance loan totaling $241,000,000 for the property.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $241,000,000
- Lender: Capital One
- Landlord: Sonny Kalsi - BentallGreenOak
- Loan Type: Refinance
- Date: 07/30/2025
The note identifies Mack Real Estate as the prior lender with a $285,000,000 financing on the asset before the refinance. It also notes the role of BentallGreenOak in securing the current loan from Capital One for the property at 420 East 54th Street in Sutton Place.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93