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NEW YORK CITY-Two large equity and debt transactions for condominium conversions here close. Together they total approximately $1.3 billion. Both are on the Upper East Side.

The financings were arranged by Carlton Group's chairman Howard L. Michaels, managing director John Bralower and partner Michael Campbell. "The market is there for the right projects," Bralower tells GlobeSt.com. He notes that Carlton's last two deals, total more than $2 billion, were in the condo conversion sector.

The larger of the two transactions is Manhattan House, which is a 583-unit, one-million-sf apartment complex located at 65th Street between Second and Third avenues. Carlton first arranged a joint venture between N. Richard Kalikow's Manchester Real Estate & Construction and Jerimiah O'Connor's O'Connor Capital Partners. The joint venture was the winning bidder the property for a reported sales price of $625 million. Carlton then arranged a maximum financing for the joint venture's acquisition. The projected sellout of the Manhattan House conversion is in excess of $1 billion, Carlton officials predict.