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BentallGreenOak's Sonny Kalsi Secures Capital One Refinance For 394 Unit Sutton Place Multifamily
FINANCED
$241,000,000
New York
See Similar DealsMultiFamily445,735 SF
Financed 07/30/2025
FINANCED
BentallGreenOak's Sonny Kalsi Secures Capital One Refinance For 394 Unit Sutton Place Multifamily
420 East 54th Street
See Similar DealsMultiFamily445,735 SF
Financed 07/30/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$540
Total Square Footage:445,735 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$241,000,000.00
Monthly NOI$1,606,666.67
Monthly Debt Service$1,523,283.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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