Scale Lending originates $38M inventory loan for unsold UWS condos
Scale Lending recently provided a $38 million inventory loan for more than two dozen unsold units at a luxury condominium on the Upper West Side. The borrower is Simon Baron Development Group, who, along with Quadrum Global, developed the Chamberlain, a 38-unit condo building at 269 West 87th Street.
Slate Property’s Scale Lending Strikes First Deal For a Brooklyn Resi Project
Scale Lending — a partnership between Slate Property Group and the Carlyle Group — has closed on its first deal in New York. The platform provided a $35 million construction loan for 834 Pacific Street in Brooklyn, according to the company. Happy Living Development is planning to convert a Prospect Heights rectory into a residential rental project at the site.
Scale Lending Provides $56M in Construction Financing for LIC Multifamily Property
JMH Development and Mettle Property Group have scored $56 million in financing to develop a 143-unit multifamily building in Long Island City, Queens, Commercial Observer has learned.