Howard Michaels, chairman of locally based Carlton Group Ltd.,was able to arrange $630 million consisting of a $325-million firstmortgage, $135-million mezzanine mortgage and $170 million inequity from a $3-billion opportunistic fund for the property.Carlton sources tell that the $3-billion opportunisticfund for the property "is a Carlyle fund." The source couldn'tspecify the exact fund.

Michaels has executed more than $40 billion in equity and debttransactions over the last few years and many of the transactionshave been equity and debt recapitalizations. Michaels, working withextremely difficult market conditions, according to a Carltonrelease, was able to arrange the 666 Fifth Ave. retail condo equityrecap, which it considers the largest equity and debtrecapitalization to take place in Manhattan this year.

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Natalie Dolce

Natalie Dolce, editor-in-chief of and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel,, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including and Museums New York magazine.