TF Cornerstone wins $325m refinancing loan for Carnegie Hall Tower in Manhattan

TF Cornerstone has received $325 million in refinancing for Carnegie Hall Tower on Manhattan’s ‘Billionaire’s Row. Located at 152 West 57th Street, the loan was arranged by The Singer & Bassuk Organization through Metropolitan Life Insurance Company. The 555,000 square-foot, 60-story building, built in the late 1980s, was designed by César Pelli and has won an Honor Award from the American Institute of Architects. The transaction marks the fifth time since 1988 that SBO, the company’s longtime financing intermediary, has arranged debt for this property.

“This is the fifth financing we have arranged for Carnegie Hall Tower since 1988,” said Andrew J. Singer, Chairman and CEO of The Singer & Bassuk Organization. “As one of the great real estate families of New York City, TFC’s principals have demonstrated a keen ability to ignite neighborhood growth and triumph over industry-wide obstacles for six decades.”