Marc Holliday Of SL Green And Jacques Chappuis Of PGIM Close $1.4B Loan At 11 Madison Avenue
11 Madison Avenue
$1,400,000,000
$608/SF
Building Size
2,300,000 SF
Asset Type
Office
Closing
Sep 12, 2025
About this deal
AI
The asset involved in the transaction is an office property located at 11 Madison Avenue, Manhattan, encompassing 2,300,000 square feet. The loan amount for this property is $1,400,000,000, which is structured as a fixed-rate mortgage.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,400,000,000
- Address: 11 Madison Avenue
- Market: Manhattan
- Lender: Wells Fargo, J.P. Morgan Chase, Bank of America, Goldman Sachs, German American Capital, Bank of Montreal
- Landlord: Marc Holliday - SL Green, Jacques Chappuis - PGIM
The key individuals in this transaction include Marc Holliday, representing SL Green, and Jacques Chappuis, representing PGIM Real Estate. The loan’s proceeds are being utilized to repay debt and fund tenant improvements. Additionally, Trimont serves as the special servicer for this loan.
On the Map
$1,400,000,000
$608/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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93