American Exchange Locks In $210M for Manhattan Building

January 28, 2026

Office Finance New York News More Northeast

Previous financing included a $165 million note.

Sentry Realty and 60 Guilders, affiliates of American Exchange Group, have obtained a $210 million refinancing loan for 1375 Broadway, a 464,951-square-foot office building in Manhattan. Newmark secured the financing from Bain Capital.

The ownership acquired the asset in December 2024 from Savanna, according to Yardi Matrix, after having purchased the $200 million note encumbering the property. Upon closing, that debt was converted to a first mortgage and its amount reduced to $165 million.

Located within Midtown Manhattan, the 27-story building is close to Hudson Yards, Empire State Building and Times Square. Completed in 1927, the high-rise underwent renovations that included a redesigned lobby, common-area upgrades and the modernization of tenant lounges.

The LEED Gold-certified tower has floorplates ranging between 3,929 and 22,176 square feet, as well as 41,382 square feet of retail space across three floors. Amenities also include a 6,000-square-foot rooftop terrace.

Newmark Vice Chairman Nick Scribani, Senior Managing Director Ricky Braha, Associate Director Tim Polgase and Niv Shahmoon secured the financing.

Office loan originations keep steady

Office loan originations rose 181 percent year-over-year in the third quarter of last year, according to a Mortgage Bankers Association report. On a quarterly basis, new mortgages increased 67 percent in dollar volume, pointing to a recovery aligned with broader shifts in office real estate trends.

Capital activity remained steady early in 2026 as well. This week, a joint venture between Vornado Realty Trust and Korea Post secured a $250 million loan to refinance 8 West 34th Street, a 12-story office building fully leased to Amazon.