Newmark Arranges $167 Million Refinancing for Leased Fee Interest in 32 Old Slip in Downtown Manhattan

May 5, 2025 9:00 AM

Newmark announces it has arranged a $167 million loan on behalf of Safehold and Melohn Capital for the refinancing of the leased fee interest in the land beneath 32 Old Slip, a premier office property in downtown Manhattan.

Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Senior Managing Director Daniel Fromm and Director John Caraviello, secured the financing from Goldman Sachs, Barclays and Morgan Stanley.

Originally acquired in 2015, the leased fee interest is subject to a long-term ground lease with an affiliate of RXR, a national real estate owner, operator and developer. The ground tenant owns the improvements on the site, which comprise a 1.2 million-square-foot Class A office tower.

About Safehold, Inc.
Safehold Inc. (NYSE: SAFE) is a publicly traded real estate investment trust (REIT) focused on acquiring and managing ground leases in major urban markets across the United States. The company seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.

About Melohn Capital, LLC.
Melohn Capital, LLC is a privately held real estate investment and development firm based in New York City. The firm has a diverse portfolio that includes office, multi-family, and retail properties, primarily concentrated in New York City and other major metropolitan areas.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.