{"id":8156,"date":"2017-04-18T09:50:37","date_gmt":"2017-04-18T09:50:37","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=8156"},"modified":"2025-07-16T16:11:31","modified_gmt":"2025-07-16T13:11:31","slug":"carnegie-hall-tower-5th-refi","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/carnegie-hall-tower-5th-refi\/","title":{"rendered":"Singer &#038; Bassuk Secures 5th Refi for Carnegie Hall Tower"},"content":{"rendered":"<div id=\"attachment_8159\" style=\"width: 250px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/04\/yardi_matrix_carnegie_hall_tower.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-8159\" class=\"size-medium wp-image-8159\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/04\/yardi_matrix_carnegie_hall_tower-240x300.jpg\" alt=\"yardi matrix photo of the carnegie hall tower at 152 West 57Th Street, New York\" width=\"240\" height=\"300\" \/><\/a><p id=\"caption-attachment-8159\" class=\"wp-caption-text\"><em>Carnegie Hall Tower (Yardi Matrix)<\/em><\/p><\/div>\n<p>TF Cornerstone announced that longtime financing intermediary\u00a0Singer &amp; Bassuk has secured a $325 million refinancing for the trophy office property at <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/carnegie-hall-tower\/\" target=\"_blank\" rel=\"noopener\">152 West 57th Street<\/a>\u00a0 This is the fifth time that SBO has arranged debt on behalf of TFC since 1988. According to the <a href=\"https:\/\/www.wsj.com\/articles\/office-tower-on-billionaires-row-snags-a-low-rate-loan-1491929990\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a>, the Metropolitan Life Insurance mortgage loan carries a 15-year term and an interest rate of under four percent.<\/p>\n<p>The 542,584-square-foot <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/ny\/new-york\/carnegie-hall-tower\/\" target=\"_blank\" rel=\"noopener\">Carnegie Hall Tower<\/a>, located on Manhattan\u2019s &#8220;Billionaire\u2019s Row,&#8221; is one of the city&#8217;s most impressive office locations. Designed by C\u00e9sar Pelli and completed in the late 1980s, the tower won an Honor Award from the American Institute of Architects. Rising 60 stories\u00a0 high into the iconic skyline, many of its floors offer stunning views of New York City that extend over Central Park, the Hudson and East Rivers and even to the Atlantic Ocean.<\/p>\n<p>The award-winning <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ny\/manhattan\/midtown-manhattan\/\" target=\"_blank\" rel=\"noopener\">Midtown Manhattan office building<\/a>\u00a0features 9-foot-high ceilings and above-standard, marble reception areas with wood and glass finishes throughout, on each floor. The property offers 24\/7 full concierge services, on-site operations staff, a messenger center for all outgoing and incoming packages and a security card access system. Furthermore, its Plaza District location makes it easily accessible by all forms of public and private transportation.<\/p>\n<p>TF Cornerstone\u2019s Senior Vice President Jake Elghanayan highlighted in a statement that &#8220;this is truly a multi-generational property and one that the family is extremely proud of. Our senior generation was transformational in extending the Plaza District to the west with the development of Carnegie Hall Tower. Now the younger generation hopes to continue that legacy and maintain a beautiful and unique office building.\u201d<\/p>\n<p>Chairman &amp; CEO of The Singer &amp; Bassuk Organization Andrew Singer added that &#8220;as one of the great real estate families of New York City, TFC\u2019s principals have demonstrated a keen ability to ignite neighborhood growth and triumph over industry-wide obstacles for six decades. Playing a role in their successful projects has been a tremendous honor and we are excited to have completed yet another milestone financing for them.&#8221;<\/p>\n<p>Notable tenants include law firm Grubman Shire &amp; Meiselas and financial firms Kingdon Capital and Greystone and Co. According to <a href=\"http:\/\/rew-online.com\/2016\/05\/18\/greystone-expands-to-55000-sf-at-carnegie-hall-tower\/\" target=\"_blank\" rel=\"noopener\">Real Estate Weekly<\/a>, Greystone renewed and expanded its Carnegie lease last year in May, from 40,000 to 55,000 square feet of <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/ny\/manhattan\/theatre-district-times-square\/\" target=\"_blank\" rel=\"noopener\">Theatre District &#8211; Times Square office space<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Looking for the perfect space for your business? Head over to <a href=\"https:\/\/www.commercialcafe.com\/\" target=\"_blank\" rel=\"noopener\">CommercialCafe<\/a> and start your search!<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TF Cornerstone announced that longtime financing intermediary\u00a0Singer &amp; Bassuk has secured a $325 million refinancing for the trophy office property at 152 West 57th Street\u00a0 This is the fifth time that SBO has arranged debt on behalf of TFC since 1988. According to the Wall Street Journal, the Metropolitan Life Insurance mortgage loan carries a&hellip;<\/p>\n","protected":false},"author":48,"featured_media":8157,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,39],"tags":[],"class_list":["post-8156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-office","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singer &amp; 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