Newmark Arranges $515 Million Refinancing for Rithm Capital's 31 West 52nd Street in Midtown Manhattan

Newmark Group, Inc. (Nasdaq: NMRK) has arranged $515 million in fixed-rate financing on behalf of Rithm Capital for 31 West 52nd Street, a 785,000-square-foot Class A office tower in Midtown Manhattan's Plaza District, the firm announced July 6.

Wells Fargo led the financing package, which is structured as a $415 million senior mortgage, a $40 million B-note, and a $60 million mezzanine loan. The lending syndicate also includes Bank of America, Barclays, Citi, Goldman Sachs, and JPMorgan.

Deal Structure and Newmark Team

Jordan Roeschlaub, Co-Head of Global Debt & Structured Finance at Newmark, along with Adam Spies, Co-Head of U.S. Capital Markets, Executive Vice Chairman Adam Doneger, and Vice Chairman Nick Scribani arranged the financing on behalf of Rithm Capital. Director Tim Polglase, Associate Director Dan Axelson, and Analyst Jack Fenton provided additional strategic support. Cushman & Wakefield's Gideon Gil, Zach Kraft, and Cecelia Galligan also advised on the transaction.

Asset Profile: 31 West 52nd Street

Located directly across from the Museum of Modern Art, 31 West 52nd Street occupies a prominent position in Midtown Manhattan's Plaza District. The building comprises approximately 785,000 square feet of Class A office space. Newmark's announcement described the property's "high-quality tenancy, long-term leasing profile and institutional ownership" as factors that make it attractive to lenders seeking exposure to best-in-class office assets.

Strategic Context: Rithm's Paramount Portfolio Acquisition

The refinancing follows Rithm Capital's acquisition of the broader Paramount Group office portfolio, a $1.6 billion transaction on which Newmark served as financial advisor to Rithm. The fixed-rate financing is intended to support Rithm's long-term business plan for 31 West 52nd Street, one of the portfolio's premier New York City assets.

Sources: Newmark Group, Inc. via PR Newswire, July 6, 2026