Wilhelm Von Finck signs $235M refi with Rialto Capital for office in Midtown East

Wilhelm Von Finck Jr. and Paramount Group through the entity Wvf-Paramount 745 Property, L.P. as borrower signed a refi loan with lender Rialto Capital Management through the entity Fs Creit Originator LLC valued at $235 million for the office building (O4) at 745 5th Avenue in Midtown East, Manhattan.
The deal closed on December 18, 2025 and was recorded on December 30, 2025. The prior lender was Deutsche Pfandbriefbank which held debt that had an original loan amount of $250 million.

The property has 459,340 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $511 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 October 25, 2013, for $342.8 million. The signatory for Wilhelm Von Finck Jr. and Paramount Group was the attorney Thomas Patrick Dore . The signatory for Rialto Capital Management was Sorana Georgescu .

Rithm Capital purchased Paramount Group for $1.6 billion.

Prior sales, articles and revenue

The 459,340-square-foot property generated revenue of $54.5 million or $119 per square foot, according to the most recent income and expense figures.

The property

The office building in Midtown East has 459,340 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 119 feet and is 200 feet deep with a total lot size of 21,942 square feet. The lot is irregular. The zoning is C5-3 which allows for up to 15 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $268.4 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 $1,750 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 East, The majority, or 81 percent of the 62.6 million square feet of commercial built space are office buildings, with hotel buildings next occupying 7 percent of the space. In sales, Midtown East has the 2nd highest sale turnover among other neighborhoods in the city with $3.9 billion in sales volume in the last two years. For development, Midtown East is the 4th most active neighborhood among other neighborhoods. It had 17.7 million square feet of commercial and multi-family construction under development in the last two years, which represents 28 percent of the neighborhood’s built space. There was one 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 eight of the 19 commercial properties representing 1,224,779 square feet of the 1,921,836 square feet. The largest owner is Wilhelm Von Finck Jr., followed by Vornado Realty Trust and then Hahn Kook Center.
There are no active new building construction projects on this tax block.

The majority, or 65 percent of the 1.9 million square feet of built space are office buildings, with retail buildings next occupying 28 percent of the space.

The borrower

The PincusCo database currently indicates that Paramount Group owned at least seven commercial properties in New York City with 7,073,134 square feet and a city-determined market value of $2.7 billion. (Market value is typically about 50% of actual value.) The portfolio has $3 billion in debt, with top three lenders as Goldman Sachs, Wells Fargo, and Morgan Stanley respectively. Within the portfolio, all identified are office properties. They are all located in Manhattan.
The PincusCo database currently indicates that Wilhelm Von Finck Jr. owned at least one commercial property in New York City with 459,340 square feet and a city-determined market value of $256.4 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single office property. It is located in Manhattan.

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