Trinity Place Holdings renegotiated debt terms for its 77 Greenwich Street condo tower in Lower Manhattan. The developer extended senior and mezzanine loans’ maturity until 2025, with an additional one-year extension option, and prolonged the corporate loan until 2026. In return, Trinity gave a 5% stake to lender Davidsen Kempner Capital Management, allowing it to control major decisions. Despite replacing sales teams multiple times, only 40 out of 90 units have sold, facing challenges in a competitive market. Trinity secured a $167 million inventory loan in 2021, addressing default issues due to slow sales and construction delays.