NEW YORK, Feb 21 (Bernama-GLOBE NEWSWIRE) — Ceruzzi Properties has secured the next phase of financing at The Centrale, the luxury residential condominium tower at 138 East 50th Street in the Midtown East neighborhood of Manhattan.
Meritz provided Ceruzzi with a $350 million inventory loan collateralized by the luxury residential tower, which pays off a previous $300 million construction loan Madison Realty Capital provided to Ceruzzi in 2017. The new financing marks the first Korean inventory loan in New York City.