Cushman & Wakefield and Greystone have arranged an $800 million refinancing for The Olayan Group’s 550 Madison Avenue, one of Midtown Manhattan’s most iconic office towers. The 41-story landmark property recently completed a transformative repositioning that converted the former single-tenant headquarters into a premier multi-tenant workplace destination, highlighted by a triple-height lobby, a half-acre public garden, and a curated suite of modern amenities. The financing was led by Rothesay and ING Capital, alongside a consortium of global lenders, underscoring strong institutional appetite for high-quality New York City office assets.
The transaction reflects continued confidence in Manhattan’s flight-to-quality office market, particularly within the highly sought-after Madison and Fifth Avenue corridor. By securing competitive financing for one of the city’s youngest individual landmarks, the advisory team demonstrated the enduring appeal of thoughtfully reimagined, amenitized office properties backed by long-term ownership vision.
Read more about this deal in Connect CRE.