TF Cornerstone refinanced the Carnegie Hall Tower in Midtown with a $325 million loan from Metropolitan Life Insurance Company.
The 15-year mortgage carries an interest rate of less than 4 percent, according to the Wall Street Journal.
Singer & Bassuk brokered the loan.
TF Cornerstone’s Jeremy Shell claims it has benefitted from nearby luxury condo construction. “The emergence of Billionaires’ Row over this last real-estate cycle has correlated very positively to the rent growth we’ve seen,” he told the Journal. [WSJ] — Konrad Putzier
(To see more properties owned by TF Cornerstone, click here)