Rithm Capital Secures $515 Million Refinance Loan From Wells Fargo, SL Green And Meadow Partners
31 West 52nd Street
$515,000,000
$656/SF
Building Size
785,089 SF
Asset Type
Office
Closing
Jul 2, 2026
About this deal
AI
The property asset is an office building located at 31 West 52nd Street in Manhattan, encompassing a total of 785,089 square feet. This transaction involved a refinance loan amounting to $515,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $515,000,000
- Lender: Wells Fargo – Charles Scharf; SL Green – Marc Holliday; & Meadow Partners – Jeffrey Kaplan
- Landlord: Rithm Capital – Michael Nierenberg
- Landlord's Representative: Jordan Roeschlaub, Nick Scribani, Tim Polglase, Dan Axelson, Jack Fenton, Adam Spies & Adam Doneger - Newmark; Gideon Gil - Cushman & Wakefield
- Loan Type: Refinance
This transaction was facilitated by key individuals including Charles Scharf, Marc Holliday, and Jeffrey Kaplan representing the lenders. Michael Nierenberg acted as the landlord, supported by a team of representatives from Newmark and Cushman & Wakefield, highlighting a collaboration among multiple entities for the successful completion of this refinancing deal.
Players
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Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93