Mori Building Company Purchases 49% Stake In 346 Madison Avenue From Marc Holliday For $175M
346 Madison Avenue
$175,000,000
Building Size
—
Asset Type
—
Closing
May 27, 2026
About this deal
AI
346 Madison Avenue is an office asset located in Manhattan. The property has a valuation of $175 million and is set to have a significant development with a joint venture to build a 46-story office tower comprising 850,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $175,000,000
- Stake: 49%
- Buyer: Mori Building Company
- Seller: Marc Holliday - SL Green
- Date of Transaction: 05/27/2026
- Market: Manhattan
Marc Holliday represented SL Green in the transaction, and the partnership with Mori Building Company aims to enhance the property near Grand Central Terminal through the planned development.
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Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93