Scale Lending Provides $38M Loan For Resi Condos In Upper West Side

A deal was structured to recapitalize the inventory of 269 W. 87th Street, a residential condominium building located in the Upper West Side. The property consists of a bulk package of condos, and a loan from Scale Lending in the amount of $38,000,000 was secured to facilitate the recapitalization. The transaction was completed on November 24, 2020. Simon Baron Development and Quadrum Global are the landlords of the property.

Summary of Transaction Details

• Property Type: Residential Condos
• Transaction Amount: $38,000,000
• Address: 269 W. 87th Street
• Market: Upper West Side

The deal was brokered by Vickram Jambu, Chris Varjan, Jonathan Braun, and George Steffani from Lee & Associates NYC. They represented the sellers in the process of selling the bulk package of condos and facilitated the structure of the loan. Lee & Associates is actively engaged in various opportunities across different asset classes, including bulk inventory. As market dynamics change, they understand the importance of creative approaches in sales, leasing, and financing. To explore how Lee & Associates can assist in maximizing property value in the current market, interested parties are encouraged to reach out to them.