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Adellco scores $95M refi for Madison Avenue condo conversion – Robert Khodadadian

Developers behind the conversion of a historic Upper East Side hotel into a luxury condominium got a major boost for their project. Adellco secured a $95 million refinancing of its construction loan for The Wales at 1295 Madison Avenue in Carnegie Hill, Lantern Real Estate co-founder Tal Bar-or told The Real Deal. The $95 million also refinanced senior and mezzanine loans from Arbor Realty Trust. Bar-or and partner David Strongwater were the mortgage brokers on

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, condo conversions, Madison Avenue, Real Estate Loans, refinancing The Real Deal New York Read More

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