--- title: "Commercial Observer: M&T Refis 300 East 50th Street Resi Tower With $141M Loan" description: Joint venture of Global Holdings, MAG Partners and Safanad secure fresh capital for newly completed multifamily project in Manhattan’s Turtle Bay . image: https://safanad.com/hubfs/residences-living-dining-kitchen.webp --- [Skip to the main content.](https://safanad.com/news/mt-refis-300-east-50th-street-resi-tower-with-141m-loan#main-content) [![Safanad Logo](https://safanad.com/hs-fs/hubfs/Web%20Images/safanad_logo_primary.png?width=991&height=547&name=safanad_logo_primary.png "Safanad Logo")](https://safanad.com) [![Safanad Logo](https://safanad.com/hs-fs/hubfs/Web%20Images/safanad_logo_white.png?width=991&height=547&name=safanad_logo_white.png "Safanad Logo")](https://safanad.com) - [About](https://safanad.com/business) - [Our Business](https://safanad.com/business) - [Our Values](https://safanad.com/values) - [Our Strategy](https://safanad.com/strategy) - [Our Heritage](https://safanad.com/heritage) - [Team](https://safanad.com/board) - [Board of Directors](https://safanad.com/board) - [Our Team](https://safanad.com/team) - [Operating Group](https://safanad.com/operating-group) - [Careers](https://safanad.com/careers) - [Platforms](https://safanad.com/platforms) - [Education](https://safanad.com/education) - [Healthcare](https://safanad.com/healthcare) - [Digital Infrastructure](https://safanad.com/digital-infrastructure) - [Real Estate](https://safanad.com/realestate) - [Safanad KSA](https://safanad.com/safanad-ksa) - [Chief Strategist](https://safanad.com/chief-strategist) - [News](https://safanad.com/news/tag/news) - [Contact](https://safanad.com/contact) [Investor Login](https://services.dataexchange-eu.fiscloudservices.com) Toggle Menu Toggle Menu [Investor Login](https://services.dataexchange-eu.fiscloudservices.com) - [About](https://safanad.com/business) - [Our Business](https://safanad.com/business) - [Our Values](https://safanad.com/values) - [Our Strategy](https://safanad.com/strategy) - [Our Heritage](https://safanad.com/heritage) - [Team](https://safanad.com/board) - [Board of Directors](https://safanad.com/board) - [Our Team](https://safanad.com/team) - [Operating Group](https://safanad.com/operating-group) - [Careers](https://safanad.com/careers) - [Platforms](https://safanad.com/platforms) - [Education](https://safanad.com/education) - [Healthcare](https://safanad.com/healthcare) - [Digital Infrastructure](https://safanad.com/digital-infrastructure) - [Real Estate](https://safanad.com/realestate) - [Safanad KSA](https://safanad.com/safanad-ksa) - [Chief Strategist](https://safanad.com/chief-strategist) - [News](https://safanad.com/news/tag/news) - [Contact](https://safanad.com/contact) [Linkedin](https://www.linkedin.com/company/safanad-inc) 1 min read # Commercial Observer: M&T Refis 300 East 50th Street Resi Tower With $141M Loan [News](https://safanad.com/news/author/news) Jul 27, 2026, 8:20:02 PM [News](https://safanad.com/news/tag/news) ## Joint venture of Global Holdings, MAG Partners and Safanad secure fresh capital for newly completed multifamily project in Manhattan’s Turtle Bay.   ![residences-living-dining-kitchen](https://safanad.com/hs-fs/hubfs/residences-living-dining-kitchen.webp?width=2400&height=1350&name=residences-living-dining-kitchen.webp)   A joint venture consisting of **[Global Holdings](https://commercialobserver.com/company/global-holdings/)**, **[MAG Partners](https://commercialobserver.com/company/mag-partners/)** and **[Safanad](https://commercialobserver.com/company/safanad/)** has sealed $141.4 million of bridge debt to refinance a newly built luxury apartment tower in Midtown Manhattan’s Turtle Bay neighborhood, Commercial Observer has learned **M&T Realty Capital Corporation** provided the loan on the sponsorship’s 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**’s Global Holdings as joint venture partners for the project in late 2023 as part of a capitalization that involved **Bank OZK** [supplying](https://commercialobserver.com/2023/11/bank-ozk-safanad-mag-global/) $95 million of construction financing. “Anagram Turtle Bay represents a premier multifamily asset backed by an outstanding sponsorship team,” **Joe Pizzutelli**, head of national production at M&T Realty Capital Corporation, said in a statement. 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. Anagram Turtle Bay also has nearly 5,000 square feet of ground-floor retail space [leased](https://commercialobserver.com/2025/07/serafina-mare-lease-300-east-50th-street/) to restaurant group **Serafina Mare**. “Our goal from day one was to create a residential community that would resonate with today’s renters while contributing to the continued evolution of the Midtown East neighborhood,” **Josh Feder**, chief investment officer at Global Holdings, said in a statement. “Achieving 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.” Global Holdings and MAG Partners also [partnered](https://commercialobserver.com/2026/04/global-holdings-mag-partners-develop-149-unit-resi-tower-hudson-square/) in April 2026 to develop a multifamily tower at **122 Varick Street** in Manhattan’s Hudson Square neighborhood. “Anagram Turtle Bay leased quickly because it resonated with our residents,” **Jeff Rosen**, managing principal and chief investment officer at MAG Partners, said in a statement. “This refinancing is the market’s second vote of confidence.” [![co_logo_dark](https://safanad.com/hs-fs/hubfs/co_logo_dark.png?width=181&height=20&name=co_logo_dark.png)](https://commercialobserver.com/2026/07/mt-refis-300-east-50th-street-manhattan/)   - [Tweet](https://twitter.com/share) Discover Discover - [Our Business](https://safanad.com/business) - [Our Values](https://safanad.com/values) - [Our Heritage](https://safanad.com/heritage) People People - [Our Board](https://safanad.com/board) - [Our Team](https://safanad.com/team) - [Operating Group](https://safanad.com/operating-group) Investing Investing - [Our Platforms](https://safanad.com/platforms) - [Our Strategy](https://safanad.com/strategy) - [Our Process](https://safanad.com/process) Disclaimer Disclaimer Safanad comprises Safanad Inc., which is registered as an investment adviser with the SEC, and Safanad (Dubai) Limited, which is regulated by the Dubai Financial Services Authority (DFSA) with registration number F002528 and is provisioned for (i) Managing Assets; (ii) Arranging Deals in Investments; (iii) Advising on Financial Products; (iv) Arranging Credit & Advising on Credit. 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