Global Holdings Management Group Secures $290 Million Refinance Loan From Credit Agricole For Office Building In Midtown East
875 3rd Avenue
$290,000,000
$457/SF
Building Size
634,175 SF
Asset Type
Office
Closing
Aug 21, 2026
About this deal
AI
The property asset involved in this transaction is an office building located at 875 3rd Avenue in Midtown East, Manhattan. The asset consists of 634,175 square feet and serves as office space. The refinancing loan obtained amounts to $290,000,000 from Credit Agricole Corporate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $290,000,000
- Address: 875 3rd Avenue
- Market: Midtown East, Manhattan
- Lender: Credit Agricole Corporate
- Landlord: Jonathan Ofer - Global Holdings Management Group
- Loan Type: Refinance
The refinancing of this significant office building was executed by Global Holdings Management Group, under the landlord Jonathan Ofer, marking an important financial arrangement with Credit Agricole as the lender, facilitating further investment in the property.
On the Map
$290,000,000
$457/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93