Cushman & Wakefield and Greystone arrange $800 million refinance of 550 Madison Ave.

Manhattan, NY Cushman & Wakefield and Greystone have arranged an $800 million loan for the refinancing of The Olayan Group’s 550 Madison Ave. The financing was provided by Rothesay and ING Capital, together with co-lenders including Crédit Agricole CIB, BBVA, BNP Paribas, Société Générale, and Chubb.

Cushman & Wakefield’s John Alascio, Gideon Gil, Alexander Hernandez, Alex Lapidus, Zach Kraft, Meredith Donovan and Cecelia Galligan, in collaboration with Greystone Capital Advisors’ Drew Fletcher, Bryan Grover and Jesse Kopecky, served as exclusive advisors to the borrower.

Located in Midtown, 550 Madison Ave. is a 41-story office tower that underwent a repositioning under The Olayan Group’s ownership.

The comprehensive renovation reimagined the former single-tenant headquarters into a premier multi-tenant workplace destination, featuring a triple-height lobby, a half-acre public garden designed by Snøhetta, new interior infrastructure, and a curated suite of market-leading amenities. .

“This refinancing underscores the depth of institutional demand for best-in-class, fully repositioned office assets in New York City,” said Fletcher, president of Greystone Capital Advisors. “550 Madison Ave. stands at the intersection of iconic architecture, thoughtful reinvention and long-term ownership vision”.

“The building’s leasing performance, amenity offering and landmark status, coupled with the overall strength of the Manhattan office market, resonated with lenders and resulted in a competitive execution for our client,” said Alascio, vice chair with Cushman & Wakefield.

The refinancing reflects continued confidence in New York City’s flight-to-quality office market, where demand remains concentrated in highly amenitized, well-located and sustainability-focused properties. Additionally, the Madison/Fifth Ave. office corridor emerged as one of Midtown’s most sought-after office destinations in 2025, adding to investor confidence.