The transaction includes a $415 million senior mortgage, a $40 million B-note, and a $60 million mezzanine loan. Alongside Wells Fargo, the lending group comprises major financial institutions, including Bank of America, Barclays, Citi, Goldman Sachs, and JPMorgan. This refinancing underscores the continued appetite for high-quality, institutional-grade office assets despite broader market volatility.
In section Releases
Newmark Secures $515 Million Refinancing for Midtown Manhattan Office Tower
A syndicate led by Wells Fargo has finalized a $515 million financing package for 31 West 52nd Street, a 785,000-square-foot office asset in the heart of the Plaza District. The deal, brokered by Newmark, provides capital to support Rithm Capital’s long-term strategy for the premier Midtown Manhattan property.
Newmark’s debt and structured finance team, led by Jordan Roeschlaub, Adam Spies, Adam Doneger, and Nick Scribani, orchestrated the deal. This move follows Rithm Capital’s $1.6 billion acquisition of the Paramount office portfolio, where Newmark previously served as a financial advisor. Cushman & Wakefield’s Gideon Gil, Zach Kraft, and Cecelia Galligan also provided advisory services for the refinancing, which anchors one of the city's most visible office locations directly across from The Museum of Modern Art.
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