Carlton Closes Equity and Debt For Exceptional Madison Avenue, Upper East Side Multi Family Development Transaction

September 6, 2017

Carlton Group Chairman Howard L. Michaels has announced that Managing Director Steven Fenster and Partner Michael J. Campbell have arranged both the equity and debt for the acquisition of an exceptional development site located on a prime Upper East Side, Madison Avenue location in Manhattan.

Carlton was the exclusive advisor to the developer who is an experienced and successful New York real estate group, representing them in the acquisition of this extremely rare, off-market assemblage located in the renowned Carnegie Hill section of Manhattan’s Upper East Side. The site consists of four commercial buildings with 75’ of prime Madison Avenue frontage.

Carlton arranged the equity joint venture with a prominent Manhattan-based real estate alternative investment firm who provided the acquisition and pre-development capital along with the acquisition loan. The proceeds will be used to construct a 15-story, free-market rental and retail apartment building. Carlton is also the exclusive construction advisor.

We encourage you to contact us to meet and discuss how our “off the radar” domestic and international equity and debt relationships and the cutting edge structuring techniques we employ can provide you with the best possible capital stack.

Howard L. Michaels          Michael Campbell              Steve Fenster
Chairman                             Partner                                 Managing Director
(212) 716-5607                    (212) 716-5611                    (212)716-5611

About The Carlton Group

Founded in 1991, The Carlton Group is an international real estate investment banking firm that specializes in arranging equity partnerships and executing large, complex, often multi-tranche equity and debt transactions for large development and trophy assets.

The firm has offices throughout the United States and Europe and has consummated well in excess of $125 billion of closed transactions for its high-profile roster of clients. The Carlton Group also executes an aggressive international advisory platform which is currently executing well over three billion dollars of equity, debt and investment sale advisory business throughout Europe. Carlton’s expertise includes arranging passive promotable equity, typically raising 90-95% of the equity to facilitate client transactions. Carlton is also an active principal investor and, under Carlton Strategic Ventures, owns and manages in excess of 3 million square feet of commercial, residential and retail property, inclusive of two recent dispositions.

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