Trump SoHo, the flashy downtown hotel-condo project that has struggled to sell units, announced Wednesday it has restructured its financing with iStar Financial in a deal that increases its loan by $20 million.
The deal gives the 391-unit development more breathing room as it tries to ride out a turbulent real-estate market that's been particularly hard on condo hotels. It shows that iStar, which already has lent more than $250 million to Trump SoHo, has faith in the project. But it's not clear whether it will be enough to restore the project to health.
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