JD Carlisle, Fosun International Receive $350M Loan to Build Luxury Multifamily Tower in Manhattan
NEW YORK CITY — JD Carlisle Development Group and Fosun International have received a $350 million loan for the construction of a 66-story luxury condominium project in Manhattan’s NoMad neighborhood. The 199-unit tower will be located at 126 Madison Ave., also known as 15 East 30th St.
Once known for its wholesale stores along Broadway Street, NoMad is now a hotbed for luxury condo buildings.
Designed by Handel Architects, the project will span 400,408 square feet and include 4,093 square feet of retail space. Amenities will include an indoor pool, private party room, dining room, lounge, fitness center and full-time doorman.
The building is slated for completion in 2021.
Adam Hakim, James Murad and Andrew Ladeluca of Eastern Consolidated arranged the construction loan, which was provided by Bank of the Ozarks.
Jon Mechanic, Nathaniel Lifschitz, Danielle Frank and Shelby Smith of Fried Frank acted as counsel on behalf of the developers.
Other recent luxury residential developments for JD Carlisle in Manhattan include 160 Madison Ave., the Beatrice, Centria, Cielo and Morton Square. The New York-based firm was founded in 1946.
In addition to 126-132 Madison Ave., Shanghai-based Fosun International owns 28 Liberty St. in Manhattan.
— Kristin Hiller