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Madison Ave

Marc Holliday Of SL Green Realty Corp Secures $165 Million Refinance Loan For One Madison Ave
FINANCEDOffice

Marc Holliday Of SL Green Realty Corp Secures $165 Million Refinance Loan For One Madison Ave

Madison Ave

$165,000,000

Building Size

Asset Type

Office

Closing

Mar 20, 2026

AI

The transaction involves One Madison Ave, an office property located in the Midtown South market, encompassing 1.37 million square feet. SL Green Realty Corp is the landlord, and the refinancing amount for the property is $165,000,000.

Summary of transaction details:

This refinancing marks the largest Manhattan office refinance in 2026 and includes backing from a joint venture involving SL Green, National Pension Service of Korea, Mastern, and Hines, with major banks co-originating the deal.

Players

Bank of America
Bank of AmericaLender
SC
SL Green Realty CorpLandlord

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

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93