Jeff Sutton Of Wharton Properties, Robert Cayre Of Aurora Capital Associates And Alex Adjmi Of A&H Acquisitions Secure $45.5M Refinance Loan For 511 5th Avenue In Manhattan
511 5th Avenue & 1 East 42nd Street
$45,500,000
$362/SF
Building Size
125,632 SF
Asset Type
Office
Closing
Oct 7, 2026
About this deal
AI
The asset involved in this transaction includes office space and land located at 511 5th Avenue and 1 East 42nd Street in the Grand Central market of Manhattan, encompassing a total square footage of 125,632. The refinancing loan amount secured for this property is $45,500,000.
Summary of transaction details:
- Property Type: Office & Land
- Transaction Amount: $45,500,000
- Address: 511 5th Avenue & 1 East 42nd Street
- Market: Grand Central, Manhattan
- Lender: Acore Capital
- Landlords: Jeff Sutton - Wharton Properties, Robert Cayre - Aurora Capital Associates, Alex Adjmi - A&H Acquisitions Corp.
- Loan Type: Refinance
Jeff Sutton of Wharton Properties, Robert Cayre of Aurora Capital Associates, and Alex Adjmi of A&H Acquisitions Corp. all played crucial roles in securing the refinancing loan from Acore Capital for the property and adjacent strip of land. Their involvement highlights the collaboration among notable figures in the real estate sector regarding this deal.
On the Map
$45,500,000
$362/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93