Extell Development Secures $1.2B Refinance Loan For Central Park Tower

The property involved is a condominium located at 50 West 66th Street in Lincoln Square, Manhattan. The asset, known as Central Park Tower, is marketed as the world's tallest residential building. It is currently 50% sold, with residential units starting at $4.6 million.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $1,200,000,000
• Lender: Anthony Shaskus - JVP Management
• Landlord: Gary Barnett - Extell Development

Extell Development, led by Gary Barnett, secured a $1.2 billion loan from JVP Management to refinance Central Park Tower. Despite legal challenges, the skyscraper has achieved significant sales success, with half of its units already sold at prices starting from $4.6 million.