Cottonwood Group Acquires Madison Realty Capital Senior Mortgage And Mezzanine On 262 Fifth Avenue
262 5th Avenue
$89,800,000
Building Size
—
Asset Type
Note / Loan
Closing
Jun 30, 2025
About this deal
AI
Asset: Note / Loan on 262 5th Avenue, NoMad, Manhattan. Loan amount: $110,000,000 for the purchase of senior mortgage and senior mezzanine positions.
Summary of transation details:
- Property Type: Note / Loan
- Transaction Amount: $110,000,000
- Date: 7/1/2025
- Address: 262 5th Avenue
- Market: NoMad, Manhattan
- Lender: Madison Realty Capital
- Landlord: Five Points Development
- Lender's Rep: Mark Green - Cottonwood Group
- Seller: Madison Realty Capital - Josh Zegen
- Transaction Description: Purchase of Senior Mortgage and Senior Mezzanine Positions
- Note: Cottonwood Group acquired the note from Madison Realty Capital
The deal's key participants include Mark Green, representing Cottonwood Group, and Josh Zegen, linked to Madison Realty Capital, with Madison Realty Capital acting as seller and originator of the note. The transaction reflects a financing strategy centered on acquiring multiple debt layers for a NoMad asset.
On the Map
$89,800,000
Note / Loan
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Players
Market Note / Loan Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93