The bank has been expanding its presence in midtown Manhattan recently.
SL Green is in contract to purchase the office portion of 500 Park Ave for roughly $130 million.
Appetite for office-to-residential conversions is growing across New York.
Falling borrowing costs are enticing potential buyers back.
The firm's former drab offices are set to be turned into 571 apartments by the middle of next year.
This vehicle finances commercial real estate debt. Money managers expect a spike in demand for such loans.
Florida's Related Group secured a loan to start building on the exclusive Fisher Island.
Deep discounts on commercial property deals are forcing lenders to brace for souring loans.
Lenders face the prospect of more defaults as landlords struggle to pay loans or walk away from buildings.
The $308 million mortgage on a Manhattan office tower owned by Blackstone is up for sale again.