Alex Sapir Of Sapir Organization Refinances 261 Madison Avenue Office Building For $78 Million
261 Madison Avenue
$78,000,000
$203/SF
Building Size
383,934 SF
Asset Type
Office
Closing
Oct 13, 2026
About this deal
AI
The asset involved is an office building located at 261 Madison Avenue in Manhattan’s Grand Central district. The total square footage of the property is 383,934, and it has been refinanced with a loan amount of $78,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $78,000,000
- Lender: Genesis LLC
- Landlord: Alex Sapir - Sapir Organization
- Previous Lender: Mack Real Estate Group
This transaction highlights the involvement of Genesis LLC as the lender providing the refinance for the property. Alex Sapir represents the landlord and is associated with the Sapir Organization, indicating his role in managing the asset.
On the Map
$78,000,000
$203/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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93