Goldman Sachs and Deutsche Bank in $800 Million Financing of 650 Madison Avenue

Cleary Gottlieb represented Goldman Sachs and Deutsche Bank, as co-lenders, in connection with the origination of mortgage and mezzanine loans totaling $800 million to a joint venture led by Vornado Realty Trust financing the venture’s acquisition of 650 Madison Avenue. Additional members of the joint venture include Oxford Properties Group, Crown Acquisitions Inc. and Highgate Hotels, Inc., among other institutional investors. 650 Madison Avenue is the world headquarters for Polo Ralph Lauren and home to Crate & Barrel’s flagship Manhattan store.