Apr
19
Carnegie Hall Tower Lands $325M Refi
ByThis marks Singer & Bassuk’s fifth financing arranged for the 60-story skyscraper since 1988. The César Pelli-designed iconic building won an Honor Award from the American Institute of Architects.
TF Cornerstone, the owner and developer of Carnegie Hall Tower, a trophy office building in Manhattan’s Plaza District, reached out to a familiar name for help in securing a $325 million loan from Metropolitan Life Insurance Co. to refinance the 60-story skyscraper—The Singer & Bassuk Organization.
It marks the fifth time the boutique real estate finance brokerage and advisory firm has arranged debt for the 555,000-square-foot building at 152 W. 57th St., which was developed in 1989. That area along West 57th Street is known as Billionaires’ Row for the super-luxury residential properties built there in recent years.
The 15-year mortgage has an interest rate of less than 4 percent, according to the Wall Street Journal…
