Rockwood Capital Snags $262M Refi, Seeks Discounted Sale of Midtown Tower

Now, the private equity firm is seeking to sell the 667,000-square-foot tower for around $270 million — a dramatic discount from the $580 million price it targeted just before the pandemic. The current valuation reflects the ongoing stress in the office market and declining asset values for urban commercial properties.

Located at 140 East 45th Street, the building counts Nuvo Group, Maersk, and Cigna among its tenants — and is home to Rockwood’s own headquarters. The firm has faced recent challenges in the sector, including a default on a $26.7 million loan tied to the Santa Monica Clock Tower and a 78% loss on an office asset sale in Maryland last year.