The Helmsley Carlton House on Manhattan's Upper East Side is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and New York developer Extell Development for about $170 million.
A handful of investors dug to the bottom of the discount bin and snapped up General Growth's convertible bonds at three cents on the dollar. They now trade at 103 cents.
The New York real-estate investor will buy one of the nation's largest commercial-mortgage-servicing specialists for $100 million in new equity and assuming $180 million of Centerline's debt.
