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136 East 56th Street

Beni Internazionali Secures $13.55 Million Refinance Loan From Emigrant Bank For Sutton Place Condos
FINANCEDMultiFamily

Beni Internazionali Secures $13.55 Million Refinance Loan From Emigrant Bank For Sutton Place Condos

136 East 56th Street, 140 East 56th Street & 150 East 56th Street

$13,550,000

$65/SF

Building Size

69,279 SF

Asset Type

MultiFamily

Closing

Jan 14, 2025

AI

The property asset involved in this transaction is located at 136 East 56th Street, 140 East 56th Street, and 150 East 56th Street in the Sutton Place market. It comprises a condo inventory with a total square footage of 69,279 and consists of 85 units.

Summary of transation details:

The key individuals involved in this deal include Dylan Kane and Zach Redding, who represented the landlord, Beni Internazionali, in the transaction. They are associated with Colliers, a firm that provides real estate services.

Players

Dylan Kane

Colliers

Broker

$3.5B

vol

61 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage
Emigrant Bank
Emigrant BankLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.17%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93