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Alex Sapir Of Sapir Organization Refinances 261 Madison Avenue With Richard J. Mack For $60M

Property Image
FINANCED
$60,000,000

New York

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Office383,934 SF
Financed 12/05/2025
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Property Image
FINANCED

Alex Sapir Of Sapir Organization Refinances 261 Madison Avenue With Richard J. Mack For $60M

261 Madison Avenue

See Similar Deals
Office383,934 SF
Financed 12/05/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$156
Total Square Footage:383,934 SF
Transaction Type:Loan

The asset involved in the transaction is an office space located at 261 Madison Avenue in the Grand Central market of Manhattan. The property encompasses a square footage of 383,934 and has been refinanced with a loan amount of $60,000,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $60,000,000
  • Lender: Richard J. Mack - Mack Real Estate Group
  • Landlord: Alex Sapir - Sapir Organization
  • Loan Type: Refinance
  • Closing Date: December 5, 2025
  • Previous Lender: JPMorgan Chase

The deal involves key individuals Richard J. Mack representing Mack Real Estate Group and Alex Sapir representing Sapir Organization, facilitating the refinancing process for the property at 261 Madison Avenue, ensuring the transition from prior debt with JPMorgan Chase to the new loan arrangement.

Players

Mack Real Estate Group
Mack Real Estate Group
LENDER
SO
Sapir Organization
LANDLORD

Details

FINANCED
IMAGE: Richard J. Mack & Alex Sapir DATE: 12/05/2025 ADDRESS: 261 Madison Avenue MARKET: Grand Central, Manhattan ASSET TYPE: Office ~ SF: 383,934 LENDER: Richard J. Mack - Mack Real Estate Group LANDLORD: Alex Sapir - Sapir Organization LOAN AMOUNT: $60,000,000 LOAN TYPE: Refinance NOTE: Sapir Organization refinanced 261 Madison Avenue in Grand Central, Manhattan, with a $60M loan from Mack Real Estate Group, closing December 5, 2025, replacing prior JPMorgan Chase debt.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,000,000.00

Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00