Alexico Group Lands $345M Balance Sheet Refinance for Manhattan’s Mark Hotel
On your ‘Mark,’ get set, goooo!
By Cathy Cunningham March 13, 2026 7:00 am
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Alexico Group just closed a $345 million refinance for The Mark Hotel, Commercial Observer has learned.
Deutsche Bank led the balance sheet financing — with J.P. Morgan Chase and BDT & MSD Partners also participating in the loan— while Walker & Dunlop’s Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly and Jay Morrow negotiated the transaction.
Sources familiar with the deal said it generated significant interest from the lending community, and for good reason. In the 2025 list of The World’s 50 Best Hotels, The Mark was not only the only New York hotel listed, it was one of only two hotels in the U.S. to make the cut on the coveted list, which ranks hotels across six continents. (The Hotel Bel-Air was the other.)
The five-star Mark has become known for welcoming a slew of celebrities as its guests during the Met Gala each year, with its convenient location at 25 East 77th Street — just minutes away from the Metropolitan Museum of Art (in addition to the aforementioned luxury it offers, of course).
Izak Senbahar‘s Alexico Group purchased the 153-key landmark building from Mandarin Oriental Hotel Group in 2006. Today, it boasts several high-end amenities and its popular food and beverage offerings include The Mark Restaurant, The Mark Bar and Caviar Kaspia by restaurateur Jean-Georges Vongerichten.
The hotel has been featured in several television series over the years, including HBO’s “Succession.” And just last year, in a move that would have made even the bristly Logan Roy proud, Alexico is said to have received a $1 billion offer to sell The Mark.
The hotel was last refinanced in 2024, when Alexico Group secured a $335 million financing package consisting of a two-year $300 million commercial mortgage-backed securities (CMBS) loan and $35 million mezzanine loan held outside of the CMBS trust. The senior loan comprised the GSMS 2024-MARK floating-rate, single-asset, single-borrower transaction.
Luxury hotel — and residential — development is what Alexico does best. Its New York portfolio includes other jewels such as the condominium tower at 56 Leonard Street in Tribeca — also known as the Jenga building and home to several celebrities — 165 Charles Street, another luxury condo, and the Grand Beekman.
J.P. Morgan, BDT & MSD and Walker & Dunlop declined to comment. Deutsche Bank and Alexico Group couldn’t immediately be reached for comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com
