Rithm Capital has secured $515 million in fixed-rate financing for 31 West 52nd Street, a 785,000-square-foot class A office tower in Midtown Manhattan’s Plaza District.
Newmark Group, a commercial real estate advisor and service provider to large institutional investors, global corporations and other owners and occupiers, arranged the financing on behalf of Rithm Capital.
The financing package, led by Wells Fargo, consists of a $415 million senior mortgage, a $40 million B-note and a $60 million mezzanine loan. The lending group also includes Bank of America, Barclays, Citi, Goldman Sachs and JPMorgan.
The refinancing follows Rithm Capital’s acquisition of the broader Paramount office portfolio, a $1.6 billion transaction on which Newmark served as financial advisor to Rithm. The financing supports the firm’s long-term business plan for one of the portfolio’s premier New York City assets.
Located directly across from The Museum of Modern Art, 31
