Patrinely Group Secures $135 Million Refinance Loan From Barings For Hell’s Kitchen Multifamily
546 West 44th Street
$135,000,000
$510/SF
Building Size
264,451 SF
Asset Type
MultiFamily
Closing
Dec 12, 2025
AI
The asset involved in this transaction is located at 546 West 44th Street, situated in the Hell’s Kitchen neighborhood of Manhattan. This multifamily property encompasses a total square footage of 264,451 and consists of 280 residential units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $135,000,000
- Lender: Barings
- Landlord: Robert Fields - Patrinely Group
- Previous Loan: $168.5M PCCP loan
The refinancing deal was executed by Patrinely Group through their entity, Cref 546 West 44th Street, LLC. This transaction specifically involved replacing the existing loan with the new loan amount facilitated by Barings.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93