Silverstein Properties is looking to double its lending business next year to more than $1 billion. The firm is focusing on inventory loans in the luxury condo market at neighborhoods such as Tribeca, Gramercy and Midtown East, according to Bloomberg. The firm is in negotiations for roughly $700 million worth of such loans, which are generally used as temporary lifelines for developers looking to pay off construction debt without lowering prices while dealing with slow
source https://therealdeal.com/2019/11/27/silversteins-lending-biz-could-get-a-boost-from-the-weak-luxury-condo-market/
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