Rithm Capital Secures $282.5M Refinancing for Former Paramount Group Office Tower

Rithm Capital finalizes a $282.5M CMBS loan with JPMorgan Chase for its Midtown Manhattan office tower at 1325 Sixth Ave following its Paramount Group takeover.

By: AXL Media

Published: Apr 14, 2026, 8:09 AM EDT

Source: Bisnow

Strategic Refinancing at 1325 Sixth Ave

Rithm Capital has secured a $282.5 million single-asset, single-borrower (SASB) CMBS loan for its 825,000-square-foot office tower at 1325 Sixth Avenue. The five-year, fixed-rate debt, facilitated by JPMorgan Chase, is expected to carry a 6.6% interest rate. This financial move allows Rithm to retire an existing $250 million balance sheet loan and address nearly $25 million in tenant improvements and closing costs.

Asset Profile and Occupancy

Constructed in 1989 by Edward Minskoff, the tower remains a resilient asset in the Midtown Manhattan submarket despite broader office sector headwinds. As of early 2026, the building maintained an 89.7% occupancy rate. Key tenants contributing to the tower’s stability include:

McGraw Hill: Occupies 136,000 square feet (18.1% of base rent).

New York Hilton Midtown: Utilizes the second through fourth floors as auxiliary event space.