Locally based Carlton Advisory Services arranged and closed nearly $31.2 million of construction and mezzanine financing the acquisition and development of the NoHo site. Carlton's Ruth Barone represented the borrower and placed the financing for this transaction. According to Carlton executives, the financing enabled, the buyer--a local residential developer--to "move seamlessly through the approval/entitlement process and into the construction phase, resulting in lower costs and ultimately increased profits." Carlton procured fully non-recourse financing for 90% of the total project costs, comprised of a construction loan for 74% and a mezzanine loan for the remaining 16%.

Carlton did not name the development group; however, according to New York City record, the property ownership is listed Tribeach NoHo, also known as Tribeach Holdings. The area, near the Public Theatre, and New York University, is also home to other developments including a 70,000-sf boutique hotel down the street that was home to a parking lot for 30 years. In fact, the area has its own Business Improvement District to promote the economic and cultural vitality and revitalization of the area, while maintaining a diversity of commercial, educational, artistic, historic and social characteristic for the benefit of businesses, property owners, residents and tourists.