Global Holdings to Secure $450M for Manhattan Office Tower

February 17, 2026

Office Featured Finance New York More News Northeast

A Big Four bank will issue the loan.

Exterior shot of Nomad Tower, a 757,154-square-foot office property in Midtown Manhattan. — Nomad Tower rises 39 stories in Midtown Manhattan, one block south of the Empire State Building. *Image courtesy of Yardi Matrix*

Global Holdings Management Group Inc. will soon secure a three-year, $450 million CMBS loan for Nomad Tower, a 757,154-square-foot office skyscraper in Midtown Manhattan, according to a Fitch Ratings report.

Wells Fargo Bank is expected to issue the refinancing note, which will bear a fixed interest rate of 6.5 percent. Additionally, Trimont and Argentic Services will serve as servicer and special servicer, respectively. The transaction is slated to close on March 5.

Proceeds will retire a $443 million note issued by HSBC Bank USA in September 2020, according to Yardi Matrix information. That loan was due to mature in 2030.

Global Holdings acquired Nomad Tower in 2016 from Jamestown for $565 million or $706 per square foot, the same data provider shows. The high-rise consists of 686,487 square feet of office space, 18,683 square feet of retail space and 51,984 square feet of parking area, which features 150 spots. Rising 39 stories at 1250 Broadway, the office building has floorplates ranging from 9,200 to 26,455 square feet.

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Over the past 10 years, the ownership has invested almost $140 million to reposition and modernize the 1968-completed building. Capital improvements included a $45.3 million renovation of the lobby area. Shared amenities at the LEED Platinum-certified property include a fitness center, a terrace on the 12th floor, conference rooms, a 90-person amphitheater and bike storage.

The property serves as the U.S. headquarters of Global Holdings. However, its tenant roster also features Zillow Group, TransPerfect, Gunderson Dettmer, Varonis, MWW Group, Regus and Newman Ferrara, among others. The high-rise was 95.1 percent leased as of January 2026, a KBRA report shows.

Manhattan’s office vacancy rate averaged 13.6 percent in December, the lowest value in the U.S., according to a recent Yardi Matrix report. The index witnessed a sharp 300-basis-point drop on a trailing 12-month basis.

The CMBS refinancing scene

CMBS financing experienced a strong rebound in 2025 as transactions surpassed $150 billion, up 140 percent from 2024, data from the CRE Finance Council shows. Against the backdrop of roughly $900 billion in loans due to mature over the course of 2026, CMBS is expected to play a major role in this year’s refinancing deals.

Manhattan has already seen several such transactions put into motion since the beginning of the year. Last month, Wells Fargo, Morgan Stanley Bank, Goldman Sachs and PNC Bank entered into an agreement with Vornado Realty Trust to originate a $525 million note for the refinancing for One Park Avenue.

Similarly, Brookfield Properties began the process of securing an $800 million CMBS loan for Brookfield Place earlier this month. The 2.4 million-square-foot trophy tower rises at 225 Liberty St. in Lower Manhattan.