Carlyle, Gotham Organization Land $260M for Luxury Tower
Natixis issued the funds in a CBRE deal.
A joint venture including the Gotham Organization has secured a $260 million, floating-rate refinancing note for AIRE, a luxury property encompassing 310 units in Manhattan, N.Y., from Natixis. The Carlyle Group is also part of the ownership, according to Yardi Matrix data. CBRE arranged the financing deal.
A&R Kalimian Realty previously owned the 2007-built property, though it was forced to sell in 2024 after being unable to repay a $225 million CMBS loan due to a tax break expiration, which made NOI improvement difficult. Carlyle and Gotham paid $265 million for the asset that same year, backed by a $216 million bridge loan.
Following the acquisition, the new owners repositioned the property through various upgrades, according to a company statement. These improvements include unit renovations, amenity enhancements, as well as the creation of a new terrace on the building’s fourth floor.
Unit layouts include studio, one- to three-bedroom floorplans, as well as penthouse apartments, ranging between 283 and 1,800 square feet. Amenities comprise a private park, coworking spaces and 37,000 square feet of medically anchored commercial space, among other features.
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Located at 200 W. 67th St., AIRE is within the Lincoln Square neighborhood, within walking distance of Central Park and Riverside Park South.
CBRE President & Vice Chairman Lawrence Britvan and Executive Vice President Michael Straw arranged the financing.
Multifamily debt gets cheaper, originations increase
Improved borrowing conditions led to a slight decrease in commercial real estate interest rates during the third quarter, according to a CBRE report. Multifamily still attracts the cheapest capital, with the index being roughly 40 basis points lower for such properties compared to their commercial counterparts.
Multifamily originations also increased by 44 percent during the first nine months of 2025 compared to the previous year, the latest Mortgage Bankers Association report shows. Gotham Organization closed one such deal this June by securing a $460 million debt package to refinance a 1,238-unit property, likewise in Manhattan.
Earlier this month, Arden Living obtained a $161 million refinancing note for a 22-story property in the borough’s northern submarket of Inwood. Starwood Property Trust issued the loan.
