Bluerock Real Estate has secured an $86 million construction loan from Starwood Property Trust for the Charles condominium at 1355 First Avenue.
Bluerock broke ground in November on the 31-story, Ismael Levya-designed luxury development, which will have 29 full-floor homes, according to The Real Deal. The building, located between East 72nd and East 73rd streets, is scheduled to be completed in 2014 and will offer three- to five-bedroom units, each measuring 3,100 to 3,600 square feet.
Town New Development Marketing and Sales will be marketing the property, which had been slated for 45 units in 2008. Renderings of the Levya design below: