{"id":1004794740,"date":"2026-04-09T02:21:24","date_gmt":"2026-04-09T10:21:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004794740"},"modified":"2026-04-09T05:27:56","modified_gmt":"2026-04-09T13:27:56","slug":"exclusive-sage-realty-secures-160m-manhattan-office-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exclusive-sage-realty-secures-160m-manhattan-office-refi\/","title":{"rendered":"Exclusive: Sage Realty Secures $160M Manhattan Office Refi"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/437-Madison-Ave.-in-Manhattan.jpg\"><img decoding=\"async\" data-attachment-id=\"1004794744\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exclusive-sage-realty-secures-160m-manhattan-office-refi\/437-madison-ave-in-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/437-Madison-Ave.-in-Manhattan-e1775660231257.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"437 Madison Ave. in Manhattan\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The property rises 39 stories.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/437-Madison-Ave.-in-Manhattan-e1775660231257.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/437-Madison-Ave.-in-Manhattan.jpg\" alt=\"Exterior shot of 437 Madison Ave., a 846,700-square-foot office tower in Midtown Manhattan.\" class=\"wp-image-1004794744\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">The property at 437 Madison Ave. is LEED Silver-certified. <br><em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Sage Realty Corp. has secured a $160 million refinancing loan for its office tower at 437 Madison Ave. in Manhattan, according to Yardi Matrix information. Wells Fargo Bank issued the note.<\/p>\n\n\n\n<p>The loan retires a previous $185 million note also originated by Wells Fargo Bank.<\/p>\n\n\n\n<p>Completed in 1967 by William Kaufman Organization, the property rises 39 stories and features floorplates ranging from 16,100 to 30,175 square feet. The 846,710-square-foot tower underwent cosmetic renovations in 2017 and received the LEED Silver certification in 2024.<\/p>\n\n\n\n<p>Its tenant roster includes Santander Bank, Carnegie Corp. of New York, Montgomery McCracken Walker &amp; Rhoads, Storch Byrne and Bentley Associates. Additionally, the property features 10,050 square feet of retail space on the first floor, housing Madison Avenue Florist and Wells Fargo Bank.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/the-new-mandate-navigating-the-2026-recapitalization-cycle\/\">The New Mandate: Navigating the 2026 Recapitalization Cycle<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The office tower is across the street from St. Patrick&#8217;s Cathedral and two blocks north of the Grand Central train station. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-office-loan-originations-continue-to-rise\">Office loan originations continue to rise<\/h2>\n\n\n\n<p>As of the fourth quarter of 2025, <a href=\"https:\/\/www.commercialsearch.com\/news\/commercial-and-multifamily-borrowing-went-up-in-q4-2025\/\">commercial and multifamily mortgage loan originations<\/a> registered a 30 percent increase year-over-year and a 25 percent rise quarter-over-quarter. Office properties saw a 95 percent increase in dollar volume of loans compared to the previous year, according to the Mortgage Bankers Association\u2019s quarterly survey.<\/p>\n\n\n\n<p>Recent large office lending deals in Manhattan include SL Green Realty Corp.&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/sl-green-jv-eyes-1-7b-refi-for-manhattan-building\/\">$1.7 billion refinancing for One Madison Ave.<\/a> Wells Fargo Bank issued the loan alongside four other banks, retiring $1.2 billion in existing debt. <\/p>\n\n\n\n<p>Similarly, Global Holdings Management Group Inc. landed a $450 million CMBS <a href=\"https:\/\/www.commercialsearch.com\/news\/global-holdings-to-secure-450m-for-manhattan-office-tower\/\">loan for Nomad Tower<\/a>, a 757,154-square-foot office in Midtown, a note also originated by Wells Fargo Bank. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan retires a previous $185 million note.<\/p>\n","protected":false},"author":3619,"featured_media":1004794744,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[37049,33277],"class_list":["post-1004794740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-sage-realty-corporation","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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