FINANCEDOffice
ICBC Provides $24.4 Million Refinance Loan For Office Property At 148 Madison Avenue
148 Madison Avenue
$24,400,000
$339/SF
Building Size
71,871 SF
Asset Type
Office
Closing
Oct 15, 2026
About this deal
AI
148 Madison Avenue is a 16-story office and retail tower located in the NoMad neighborhood. The property encompasses 71,871 square feet and has secured a refinancing loan of $24,400,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,400,000
- Address: 148 Madison Avenue
- Market: NoMad
- Asset Type: Office
- Borrower: Jack Saadeh, Victor Saadeh & Jack Yadid - LMR Assets
- Lender: ICBC
- Brokers: Ben Klugmann & Ariel Taieb - Meridian Capital Group
- Loan Type: Refinance
Meridian Capital Group's Benjamin Klugmann and Ariel Taieb facilitated the refinancing process involving LMR Assets as the borrower. The brokerage team was instrumental in securing the loan provided by ICBC, ensuring that the terms aligned with the needs of the borrower.
On the Map
$24,400,000
$339/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93