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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Scale Lending Closes Inventory Loan for Simon Baron

Scale Lending, an investment affiliate of Slate Property Group, recently closed on a $38-million inventory loan for the unsold units at 269 W. 87th St., a newly built full-service luxury condominium building on the Upper West Side.

The borrower, Simon Baron Development Group, is an experienced New York-based development firm known for its track record pursuing value-add investment strategy since 1990.

“Simon Baron is a repeat borrower of ours, and we fully support their ability to execute,” said Martin Nussbaum, co-founder at Slate Property Group/Scale. “Despite many lenders sitting on the sideline, Scale is actively originating loans, maintaining a focus on transitional assets, including construction, reposition, land and condominium inventory, as well as buying or financing existing loan positions.”

Scale and its affiliated entities have financed $500 million-plus in deals over the past 18 months. The platform is set to close another $200 million within the next 60 days.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition
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