Silverstein Capital Partners takes over Avenue Bellevue

This week the news broke that an affiliate of Silverstein Capital Partners, who originally was Avenue Bellevue‘s lender providing a $700m loan is now in control of the project. Avenue Bellevue is a twin tower condo project, the Avenue Residences and the Avenue Estates. Across both towers, they’re about 40% sold with their 100th unit closing today.

We hear not to expect much changes in terms of asking prices for the remaining homes to sell as Avenue has been achieving some very high dollars per square foot and they’ve sold two floors of penthouse at the Avenue Estates.