Rabina, a multi-generational, family-owned and -operated real estate investment and development firm based in New York City, announced the closing of a $540 million construction financing package for 520 Fifth Ave., the first post-pandemic — and tallest — building in Manhattan to weave together luxury residences, boutique commercial office space, world-class recreational facilities and ground-floor retail under one roof.
With site work already under way, the approximately 450,000-square-foot, 1,000-foot tall, mixed-use tower, located on Fifth Avenue and 43rd Street in the heart of Manhattan's Midtown neighborhood, will be the second tallest building on Fifth Avenue, after the Empire State Building.
JLL Capital Markets represented Rabina in arranging the $540 million financing package consisting of a $410 million senior mortgage provided by Bank OZK and $130 million mezzanine financing provided by The Carlyle Group’s Global Credit business.
“520 Fifth pre