17 East 38 Street

Owner: Amtrust Realty

Acquired: December 10, 2025, $211.2 million

Debt: December 10, 2025, $200.6 million

Built: 1952

Renovated: 2015

SF: 531,270

Dwelling units: 0

No. of buildings: 1

Class: Tower Type (O4)

Floors: 22

Transactions:

• AmTrust Realty borrowed $200.6 million from Tel Aviv Stock Exchange bondholders for 260 Madison Avenue, Grand Central, Manhattan on December 10, 2025.

• Sapir Organization sold 260 Madison Avenue, Grand Central, Manhattan for $211.2 million to AmTrust Realty on December 10, 2025.

• Sapir Organization borrowed $200 million from JPMorgan Chase for 260 Madison Avenue and 261 Madison Avenue, Grand Central, Manhattan on December 15, 2022.

Development:

• Eli Joseb filed major alteration job 122417474 for 531,270 sqft F-1 building in Grand Central, Manhattan, on May 29, 2015.

• Paz Kaspi filed major alteration job 121125950 for 29,130 sqft E building with 0 apartments in Grand Central, Manhattan, on June 22, 2012.

• Erik Tanner filed alteration job M01420432 for 1 sqft building with 0 apartments in Grand Central, Manhattan, on June 22, 2026.

• Erik Tanner filed alteration job M01367539 for 1,038 sqft COM building with 0 apartments in Grand Central, Manhattan, on June 17, 2026.

• Erik Tanner filed alteration job M01366709 for 1,038 sqft COM building with 0 apartments in Grand Central, Manhattan, on June 03, 2026.

• Erik Tanner filed alteration job M01366699 for 1,038 sqft COM building with 0 apartments in Grand Central, Manhattan, on June 03, 2026.

• Erik Tanner filed alteration job M01394858 for 1 sqft building with 0 apartments in Grand Central, Manhattan, on May 20, 2026.

Violations:

According to city public data, the properties have received $3,500 in OATH penalties in the last year.

Latest Stories:

• AmTrust Realty pays $211.2M to Sapir Organization for office in Grand Central (December 11, 2025)

• Sapir Organization records $200M refi for two office properties in Grand Central, part of $326M debt package (December 16, 2022)