National Commercial Real Estate News From CoStar Group
Carlton Grp Arranges $400M Construction Loan for Development of Tallest Residential Bldg in the U.S.
Manhattan-based Carlton Group has arranged the financing of $400 million for the institutional real estate investment fund developing what will become the tallest residential building in the United States - 432 Park Ave. in New York City.
The condos at 432 Park will average $5,800 per square foot, and about a dozen are in contract or near to closing, said people knowledgeable about the deals. When completed in 2015, the $1.2 billion residential...
Major CRE Firms Say 3Q Deal Slowdown Reflects Client Caution
The largest publicly traded CRE firms reported leasing and sales activity slowed noticeably in the U.S. during the third quarter as businesses wait on the sidelines for clarity from next week’s election and ensuing efforts to resolve nation’s fiscal debt and tax issues before making major property decisions.
Also in third-quarter earnings calls this week, CEOs of the two largest publicly traded CRE companies said the ongoing debt crisis in Europe...