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• On behalf of Ceruzzi Properties, VI originated and arranged a $350 million luxury condominium inventory loan with South Korean securities firm Meritz Securities.
• The transaction marked the first South Korean inventory loan in New York City.
• The Loan is secured by The Centrale, a 2019-built, 803-foot, 63-story tower featuring 124 luxury residential condominium units, 8,000 square feet of retail space, and a 25-space parking garage.
• The Loan proceed was used to payoff the existing construction loan Madison Realty Capital provided to Ceruzzi Properties in 2017.
“NEW YORK
HAD ALL THE IRIDESCENCE
OF THE BEGINNING OF THE WORLD.”
— F. Scott Fitzgerald
