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Bank OZK & Carlyle Provide $540M Construction Financing For Mixed Use Property On 5th Ave

520 5th Avenue
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This Mixed-use property located in NY received a loan of $540,000,000 about 2 years ago. The brokers of the deal were Geoff Goldstein, Alex Staikos, Marko Kazanjian, Evan Pariser, and Christopher (Chris) Peck

The mixed-use property located at 520 5th Ave in Midtown, Manhattan has recently undergone a closed transaction. The property spans an impressive 450,000 square feet and is situated in a prime location in the market.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Date: 03/02/2022
  • Address: 520 5th Ave, Midtown, Manhattan
  • Market: Midtown, Manhattan

The transaction involved a loan from Bank OZK and Carlyle in the amount of $540,000,000. The loan type is construction financing, indicating that it was secured to facilitate the development or renovation of the property.

The landlord of the property is Rabina, a significant player in the real estate market. The deal was facilitated by brokers Chris Peck, Geoff Goldstein, Evan Pariser, Marko Kazanjian, and Alex Staikos, representing JLL.

By securing substantial financing and engaging reliable brokers, the transaction involving the mixed-use property at 520 5th Ave showcases the commitment of all parties involved towards the development and success of the asset.

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Deals
  • Location
    520 5th Avenue, New York City, New York 10017, United States520 5th Avenue, New York City, New York 10017, United States
  • Loan Value
    $540,000,000$540,000,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Evan Pariser

Evan Pariser

Deals12
Financed$2.1B

Geoff Goldstein

Geoff Goldstein

Deals39
Financed$6B

Christopher (Chris) Peck

Christopher (Chris) Peck

Deals36
Financed$5.7B

Alex Staikos

Alex Staikos

Deals22
Financed$3B

Marko Kazanjian

Marko Kazanjian

Deals33
Financed$2.3B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

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Deal Summary

LOAN IMAGE: Chris Peck, Marko Kazanjian, Geoff Goldstein, Alex Staikos & Evan Pariser DATE: 03/02/2022 ADDRESS: 520 5th Ave MARKET: Midtown, Manhattan ASSET TYPE: Mixed Use ~ SF: 450,000 LENDER: Bank OZK & Carlyle LANDLORD: Rabina BROKERS: Chris Peck, Geoff Goldstein, Evan Pariser, Marko Kazanjian, Alex Staikos - JLL LOAN AMOUNT: $540,000,000 LOAN TYPE: Construction Financing

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520 5th Avenue

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