Carlyle Group Refinances Three NYC Properties With $137.8 Million Loan From PGIM Real Estate

The asset involved in this transaction is a retail condo located at 31-08 Northern Boulevard, 1203 East New York Avenue, and 2926 Frederick Douglass Boulevard across the markets of Long Island City, Brooklyn, and Manhattan. The transaction relates to a refinance loan of $137,800,000, which positions the assets in a significant financial arrangement within the New York City real estate market.

Summary of transaction details:

• Property Type: Retail Condo
• Transaction Amount: $137,800,000
• Lender: Raimondo Amabile & Cathy Marcus - PGIM Real Estate
• Landlord: Harvey M. Schwartz - Carlyle Group
• Loan Type: Refinance
• Previous lenders: Santander Bank and Deutsche Bank

The refinancing was executed by Carlyle Group, which encompasses retail and industrial assets across three properties in New York City. This reflects a strategic move to replace existing debt obligations with fresh financing from PGIM Real Estate.