Carlyle Group secures $160M refi for
866 UN Plaza

The firm bought 62 office condos in the tower last year

New York /
Nov.November 01, 2018 01:30 PM

866 United Nations Plaza and Carlyle Group CEO William Conway Jr. (Credit: Getty Images)

Carlyle Group secured a $160 million loan for its office condominiums at 866 United Nations Plaza in Midtown East.

The loan covers 56 unsold units that the firm acquired last year for $218 million. AllianceBernstein provided the new debt, which replaces a $168 million Deutsche Bank mortgage from 2017, according to property records. The financing package also includes a $5 million gap mortgage.

The previous owner, Meadow Partners, acquired the 471,000-square foot building in 2013 and split the property into 96 office condo units. Carlyle owns a total of 62 office condos in the six-story structure, which sits at the base of two 32-story luxury residential towers, records show.

The property is home System Property Development, a Pasadena, California-based real estate investment firm that paid $30.1 million for three first-floor units in 2016. The Government of Uruguay also purchased two office condos in the property last July.

Carlyle, founded by William Conway, Jr., Daniel D’Aniello and David Rubenstein, declined to comment. The company is set to get more involved on the other side of real estate debt transactions. It recently announced a partnership with Slate Property Group for the launch of a $750 million firm called SCALE Lending. SCALE will focus on bridge and transitional loans for the New York City real estate market.


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

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

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
258 8th Avenue (Google, Target)

Target planning yet another NYC store in Chelsea

Target planning yet another NYC store in Chelsea
Churchill Real Estate's Justin Ehrlich and 381 Broadway (Google Maps)

Two-year Tribeca foreclosure saga continues with lawsuit over $20M

Two-year Tribeca foreclosure saga continues with lawsuit over $20M
Adam America's Omri Sachs and Dvir Cohen with 2503-2509 Broadway (Google Maps; Adam America)

Adam America secures $63M in financing for Upper West Side project

Adam America secures $63M in financing for Upper West Side project
Convene CEO Ryan Simonetti (Convene)

Convene closes Manhattan locations as corporate events fail to return

Convene closes Manhattan locations as corporate events fail to return
New York City District Council of Carpenters’s Monitor Glen McGorty (iStock; LinkedIn)

NYC carpenters union changes how it roots out mob ties

NYC carpenters union changes how it roots out mob ties
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...