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Carter's View

Clarett Capital LLC, a joint venture between the Clarett Group and Prudential Real Estate Investors and ING/Clarion, has obtained a $206.5 million construction loan for a 210,213-square-foot residential condominium development on the southeast corner of West End Avenue and West 70th Street.

Hypo Real Estate Capital Corporation secured the financing.

Veronica W. Hackett, the managing partner of The Clarett Group, told CityRealty.Com today that the development will consist of a 27-story tower with 191 condominium apartments, 27,000 square feet of retail space and a 76-car garage. Costas Kondylis is the architect for the project.

The Clarett Group?s projects include the 55-story Sky House condominium tower under construction at 11 West 29th Street, Place 57, which is under construction at 207 East 57th Street, Chelsea House at 130 West 19th Street, 2770 Broadway, the Montrose at 308 East 38th Street, the Post Toscana at 389 East 89th Street and the Post Luminaria at 385 First Avenue.

The site is close to Donald Trump?s recently completed residential towers along Riverside Boulevard and to recently announced new projects by Extell further south.

Ms. Hackett said that architectural renderings of the planned project are not yet available.
Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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