Deal refinances 56 unsold office condo units
The Carlyle Group has secured $160 million loan from AllianceBernstein to refinance 56 unsold office condo units (approximately 250,000 SF) at 866 United Nations Plaza. The property sits between East 48th and 49th Streets, and is the only commercial building east of First Avenue
Financing breakdown:The new debt replaces a $168 million loan provided by Deutsche Bank in 2017. It also includes a $5 million gap mortgage, according to a report in TRD.