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Originally Posted by ht-freak
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I wouldn't say it was directly responsible. Some of these residential towers, the big ones, usually don't get funding until after they're already rising, some even almost topped out. But I there were some other issues involved here, as well as the nature of where and what they're building. You can think of it in terms of Steinway, but once that one got rising, it rose quickly. There are going to be condos at the top of this building, higher than anything currently in Brooklyn. I haven't seen anything as far as pricing, or when they expect those to hit the market there.
https://therealdeal.com/2018/11/15/b...=posts_popular
Brooklyn’s tallest tower may soon rise thanks to massive Silverstein loan
Silverstein Capital to lend $240M on JDS’ 9 DeKalb
By Konrad Putzier, David Jeans and Rich Bockmann
November 15, 2018
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Michael Stern’s JDS Development is in advanced talks to secure a $240 million mezzanine loan from Silverstein Capital Partners for its planned Brooklyn mixed-use tower 9 DeKalb Avenue, sources told The Real Deal.
The loan is part of a $650 million financing package that will likely also include a $400 million senior mortgage from another lender, sources said. It will also mark the first major loan issued by Silverstein Capital, developer Silverstein Companies’ new commercial debt business.
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