Carlton arranged the closing of $400 million construction loan at 432 Park Avenue, which is the planned 95-story tower at Park Avenue and East 57th Street. When completed, the 1,395-foot-high 432 Park will be the tallest residential building in the U.S.
This prestigious new tower will boast 147 large luxurious residential units, which will be amongst the city’s most expensive condominiums. The total residual condominium sales value is greater than $2.5 billion.
In order to facilitate this transaction, Carlton accessed one of its European lending contacts who funded the construction loan from its balance sheet.