Global Holdings Management Group is refinancing its 1250 Broadway office tower in the NoMad neighborhood, with a $450 million commercial mortgage-backed securities loan.
The term is for three years, with Wells Fargo providing the debt and Eastdil Secured arranging it, according to reporting from the Commercial Observer. Rob Turner, Ethan Pond and Grant Frankel led the way on the arrangements for Eastdil.
The trophy property is known for its host of technology firms. One of them is artificial intelligence firm, Upstart, which leased the full 33rd floor last November, taking 15,356 square feet, as reported by the CO. Some other tech firms that are signed to deals at 1250 Broadway include Elastic, fintech firm Copper, Toss Securities and Datavant. Additionally, Zillow and law firm Gunderson Dettmer occupy space at the 39-story building.
First acquired by Global Holdings in 2016 in a deal that CoStar reported to be worth $565 million, 1250 Broadway sits between 32nd and 31st Street. The building features amenities such as a terrace on the 12th floor, a fitness center, a private coffee bar, a parking garage accommodating 150 cars, bicycle storage and a private lounge with gaming facilities.
Some other properties that Global Holdings operates in Manhattan include 120 Park Avenue, 875 Third Avenue and 99 Park Avenue.
Overall, office performance in Manhattan during 2025 was resilient. In Avison Young's full year 2025 investment sales report for the borough, office saw a 62 percent year-over-year jump to $5.7 billion across 67 transactions. Total investment sales in Manhattan came in at $12.05 billion, with transactions amounting to 77. The figures were up seven percent and 13 percent year-over-year, respectively.
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