Sales volume declined by 64 percent in Q1, but that could change if a rate cut is delivered by the end of the year.

This is one of the largest construction loans ever originated in the luxury residential sector.

The site is Extell Development's project that calls for one million square feet of space.

Yet, sales have rebounded from previous lows as cap rates have tightened.

Vacancy in the market sits at just 0.8 percent.

SL Green will use the proceeds to repay corporate debt.

Class A vacancy alone hit 31.5 percent.

Freddie Mac provided the loan through PNC Bank.