Rithm Capital signs $282.5M refi with Chase for office in Midtown West

Rithm Capital through the entity 1325 Avenue Of The Americas, L.P. as borrower signed a refi loan with lender JPMorgan Chase valued at $282.5 million for the office building (O4) at 1325 Avenue of the Americas in Midtown West, Manhattan. The building, mid-block between Sixth and Seventh avenues, does not front on Avenue of the Americas, and has an alternate address of 141 West 53rd Street.
The deal closed on April 9, 2026 and was recorded on April 13, 2026. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $25 million. The property has 753,137 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $375 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on December 19, 2025, for $3.6 billion. The signatory for Rithm Capital was Richard T. Reczka . The signatory for JPMorgan Chase was Jessica Wong .

The property

The office building in Midtown West has 753,137 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 162 feet and is 200 feet deep with a total lot size of 35,799 square feet. The lot is irregular. The zoning is C6-6.5 which allows for up to 12 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $282.8 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $2,200 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Midtown West, The majority, or 75 percent of the 75.9 million square feet of commercial built space are office buildings, with hotel buildings next occupying 14 percent of the space. In sales, Midtown West has the 3rd highest sale turnover among other neighborhoods in the city with $2.6 billion in sales volume in the last two years. For development, Midtown West is the 2nd most active neighborhood among other neighborhoods. It had 41.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 54 percent of the neighborhood’s built space. There were 114 pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of three of the three commercial properties representing 857,455 square feet of the 857,455 square feet. The largest owner is Rithm Capital, followed by Edel Family Management and then Michael Mcnamee.
There are no active new building construction projects on this tax block.

The majority, or 88 percent of the 857,455 square feet of built space are office buildings, with elevator buildings next occupying 12 percent of the space.

The borrower

The PincusCo database currently indicates that rithm capital owned at least one commercial property in New York City with 753,137 square feet and a city-determined market value of $245.1 million. (Market value is typically about 50% of actual value.) The portfolio has $25 million in debt, borrowed from JPMorgan Chase. The portfolio consists of at least a single office property. It is located in Manhattan.

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