$309M in Lifeline Financing for One West End

The 109 unsold luxury condominiums at One West End reportedly got a lifeline in the form of fresh financing. Developers Silverstein Properties and Elad Group have taken out a $308.6-million “condominium inventory” loan from Deutsche Bank.

The 246-unit building on the border between the Upper West Side and Midtown Manhattan will use the money in part to retire previous loans, according to reporting in the Real Deal. The developers took out a $350.8 million construction loan from Wells Fargo in 2014.

The project reportedly has 191 units either closed or in contract — that leaves 55 condos available.

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