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Harlem Project Lands $56M for Condo Inventory
Lantern Real Estate arranged a $56-million condo inventory loan for 145 CPN, a luxury condominium property at the top of Central Park North in Harlem. The loan was provided by the Northwind Group.
Standing 13 stories tall, 145 CPN was recently completed and is comprised of 37 units with one- to four-bedroom layouts, all with direct views of Central Park and the Manhattan skyline.
“Lantern secured attractive financing for the borrower within a period of only one month,” said Tal Bar-Or, principal and co-founder of Lantern Real Estate. “Not only did this deal move quickly, but we were also able to tailor a unique and efficient structure.
“Despite disruption associated with the pandemic,” he continued, “this transaction demonstrates that the financing world remains committed to New York City’s future. Lenders are affirming the city’s long-term resiliency by supporting high-quality projects like this from reputable sponsors.”
- ◦Development
