{"id":301780,"date":"2026-07-21T14:23:51","date_gmt":"2026-07-21T14:23:51","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/301780\/"},"modified":"2026-07-21T14:23:51","modified_gmt":"2026-07-21T14:23:51","slug":"mt-refis-300-east-50th-street-resi-tower-with-141m-loan-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/301780\/","title":{"rendered":"M&T Refis 300 East 50th Street Resi Tower With $141M Loan \u2013 Commercial Observer"},"content":{"rendered":"

A joint venture consisting of Global Holdings<\/a>, MAG Partners<\/a> and Safanad<\/a> has sealed $141.4 million of bridge debt to refinance a newly built luxury apartment tower in Midtown Manhattan\u2019s Turtle Bay neighborhood, Commercial Observer has learned<\/p>\n

M&T Realty Capital Corporation provided the loan on the sponsorship\u2019s 194-unit Anagram Turtle Bay property at 300 East 50th Street. The deal closed nearly three years after MAG Partners and Safanad joined Eyal Ofer\u2019s Global Holdings as joint venture partners for the project in late 2023 as part of a capitalization that involved Bank OZK supplying<\/a> $95 million of construction financing.\u00a0<\/p>\n

SEE ALSO: New York City Hotel Labor Deal Creates Hurdles for Hospitality Underwriting<\/a><\/p>\n

\u201cAnagram Turtle Bay represents a premier multifamily asset backed by an outstanding sponsorship team,\u201d Joe Pizzutelli, head of national production at M&T Realty Capital Corporation, said in a statement.\u00a0<\/p>\n

The BFSK Architects-designed development features more than 142,000 square feet of residential space with apartment layouts ranging from one- to three-bedrooms. Community amenities include a rooftop terrace, a coworking lounge, a library and a fitness center.<\/p>\n

Anagram Turtle Bay also has nearly 5,000 square feet of ground-floor retail space leased<\/a> to restaurant group Serafina Mare.<\/p>\n

\u201cOur goal from day one was to create a residential community that would resonate with today\u2019s renters while contributing to the continued evolution of the Midtown East neighborhood,\u201d Josh Feder, chief investment officer at Global Holdings, said in a statement. \u201cAchieving full lease-up so quickly and securing long-term financing speaks to the strength of that vision and demonstrates the enduring demand for thoughtfully designed, amenity-rich housing in Manhattan.\u201d<\/p>\n

Global Holdings and MAG Partners also partnered<\/a> in April 2026 to develop a multifamily tower at 122 Varick Street in Manhattan\u2019s Hudson Square neighborhood.\u00a0<\/p>\n

\u201cAnagram Turtle Bay leased quickly because it resonated with our residents,\u201d Jeff Rosen, managing principal and chief investment officer at MAG Partners, said in a statement. \u201cThis refinancing is the market\u2019s second vote of confidence.\u201d\u00a0<\/p>\n

Andrew Coen can be reached at acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A joint venture consisting of Global Holdings, MAG Partners and Safanad has sealed $141.4 million of bridge debt…\n","protected":false},"author":2,"featured_media":301781,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[80556,114425,114426,75,84,83,9,24,63],"class_list":["post-301780","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-jeff-rosen","tag-joe-pizzutelli","tag-josh-feder","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/301780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=301780"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/301780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/301781"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=301780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=301780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=301780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}