TF Cornerstone lands $325M loan for Carnegie Hall Tower

MetLife mortgage carries 15-year term

TRD NEW YORK /
Apr.April 12, 2017 11:30 AM

The Carnegie Hall Tower

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.

Major tenants in the 555,000-square-foot, 60-story tower at 152 West 57th Street, which sits next to the eponymous concert hall, are financial firm Greystone and law firm Grubman Shire & Meiselas.

Singer & Bassuk brokered the loan.

TF Cornerstone’s TRData LogoTINY 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)


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Greystar CEO Bob Faith and the Parkside Place Apartments in Cary, North Carolina (Credit: Greystar and Apartments)

What Greystar’s belief in multifamily says about the health of the economy

The Real Deal interviews TF Cornerstone's Tom Elghanayan at REBNY's 124th annual banquet.

TF Cornerstone exec: How I got over Amazon dumping LIC

Rupert Murdoch and David Doctorow (Credit: Getty Images, iStock)

News Corp. looks to Opcity lead-generation to boost real estate services biz

Clockwise from the bottom left: The Eugene (435 West 31st Street), the Hudson Yards observation deck condominium and 555 Tenth Avenue (Credit: Google Maps)

West Side story: Manhattan’s largest January real estate loans

Selina Hotel at 516- 518 West 27th Street and Adam Neumann (Credit: Google Maps, Getty Images)

Lender moves to foreclose on site of NYC hotel linked to Adam Neumann, Mexican magnate

Brookfield Property Partners CEO Brian Kingston (Credit: Brookfield, iStock)

2020 “will get a little better” after peak year for retail bankruptcies: Brookfield

arrow_forward_ios
Loading...