KUALA LUMPUR, Feb 21 -- 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 neighbourhood of Manhattan.
The new loan from Meritz provides Ceruzzi with a US$350 million inventory loan collateralised by the luxury residential tower, which pays off a previous US$300 million construction loan Madison Realty Capital provided to Ceruzzi in 2017. (US$1 = RM4.19)
The new financing marks the first Korean inventory loan in New York City. VI Development Group advised Meritz on the transaction and tapped PIA Asset Management to enter as the asset management company for the project.
The 803-foot 63-floor tower features 124 luxury residential condominium units, 8,527 square feet of retail space at and below grade, and a 25-space parking garage, with a façade designed by Pelli Clarke Pelli Architects, according to a statement.
Ceruzzi completed The Centrale in early 2019 and has begun selling condos at the project, having put 20 units into hard contract already.
The Centrale offers a mix of efficient one to five-bedroom units, ranging from 777 square feet to 5,388 square feet.
The building features luxury amenities including an indoor pool and spa, fitness centre, and shared work areas, while interior design by Champalimaud Design contributes to the property’s overall high-end sheen.
The 803-foot 63-floor tower features 124 luxury residential condominium units, 8,527 square feet of retail space at and below grade, and a 25-space parking garage, with a façade designed by Pelli Clarke Pelli Architects, according to a statement.
Ceruzzi completed The Centrale in early 2019 and has begun selling condos at the project, having put 20 units into hard contract already.
The Centrale offers a mix of efficient one to five-bedroom units, ranging from 777 square feet to 5,388 square feet.
The building features luxury amenities including an indoor pool and spa, fitness centre, and shared work areas, while interior design by Champalimaud Design contributes to the property’s overall high-end sheen.
-- BERNAMA
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