Rabina reels in $640M refi for Fifth Avenue supertall

Rabina locked down a refinancing for its Fifth Avenue supertall as the 88-story cloud buster nears the finish line. Carlyle Group provided a $640 million condo inventory loan for 520 Fifth Avenue, according to property records. The fresh financing replaces a $540 million construction loan from Bank OZK and Carlyle’s Global Credit business as the mixed-use tower transitions to leasing and sales. The 1,000-foot project located near the Empire State Building now stands as the tallest tower on Fifth Avenue in that stretch of Midtown. The property combines 25 floors of offices and 100 luxury condominiums. Condo sales launched in […] This article originally appeared on The Real Deal. Click here to read the full story.