Newmark Arranges $1.65 Billion Refinancing of One Madison Avenue in New York City
Rhea-AI Summary
Newmark (Nasdaq: NMRK) arranged a $1.65 billion refinancing for One Madison Avenue in Manhattan on March 30, 2026. The loan priced at 181 bps over U.S. Treasuries for an all-in rate of 5.81%, replacing a prior $1.25 billion construction facility.
The fully leased, 550,000-square-foot trophy office overlooks Madison Square Park and houses tenants including IBM, Franklin Templeton, Palo Alto Networks, FanDuel, Sigma Computing and Harvey AI. Newmark said this was the largest U.S. office CMBS issuance in the past 12 months and cites Manhattan trophy availability at 3.7% at end-2025.
Positive
- $1.65B refinancing secured for One Madison Avenue
- Transaction priced at 181 bps over Treasuries (all-in 5.81%)
- Property is 100% leased to global technology, AI and finance tenants
- Replacement of prior $1.25B construction facility reduces development-level leverage
Negative
- New secured debt of $1.65B increases outstanding loan balance versus prior facility
- All-in financing cost at 5.81% represents a material fixed interest expense
News Market Reaction – NMRK
In the Mar 30 session, NMRK gained 2.66%, reflecting a moderate positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 25 | Advisory mandate | Positive | +2.7% | Strategic advisory role on One Beverly Hills ultra-luxury mixed-use project. |
| Mar 25 | Advisory mandate | Positive | +2.7% | Update highlighting largest non–data center construction loan for mixed-use project. |
| Mar 17 | Leasing assignment | Positive | +1.9% | Exclusive leasing and management of 4.2M sq ft flex and office portfolio. |
| Mar 09 | Industry recognition | Positive | +1.5% | Inclusion on IAOP 2026 Global 100® for 17th consecutive year. |
| Feb 25 | Earnings release | Neutral | -0.5% | Fourth quarter and full-year 2025 financial results and dividend declaration. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent company news on major mandates and recognitions has generally coincided with modest single-day share gains, while earnings produced a small, mixed reaction.
Over the last few months, Newmark has highlighted a series of large, advisory-driven milestones. In February–March 2026, it reported strong 2025 results, a dividend and guidance, secured a 4.2 million-square-foot leasing and management assignment in suburban Philadelphia, and advised on One Beverly Hills, described as the largest non–data center construction loan for a U.S. mixed-use project. Those news items saw single-day moves between about +1.47% and +2.73%. Today’s $1.65 billion refinancing mandate at One Madison Avenue fits this pattern of high-profile capital markets and advisory wins.
Key Terms
cmbs financial
basis points financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transaction Marks Largest
Newmark Co-President of Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Nick Scribani represented owner SL Green Realty Corp. in the transaction, with Senior Managing Director Ricky Braha contributing alongside the team. The financing was priced at a spread of 181 basis points over the
"This transaction demonstrates the depth and precision of capital available for best-in-class office assets," said Roeschlaub. "Institutional investors continue to aggressively pursue high-quality opportunities with strong tenancy, differentiated product and long-term relevance. One Madison Avenue represents exactly that."
Located adjacent to Madison Square Park, One Madison Avenue is a reimagined, next-generation office development combining a restored historic podium with a newly constructed 550,000-square-foot tower. The property is
"Execution at this scale reflects both the strength of the sponsorship and the evolving credit profile of premier office assets," said Scribani. "The transaction achieved exceptional investor demand and pricing, reinforcing the continued reopening of capital markets for top-tier office product in gateway markets."
The asset features a highly amenitized environment designed to support modern workplace demands, including
According to Newmark Research, demand for high-quality office space continues to concentrate in top-tier assets across gateway markets, as tenants prioritize performance, experience and talent attraction. Direct availability in
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
1 According to Newmark Research
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SOURCE Newmark Group, Inc.