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February 01, 2019  

Debt Eyed for New Queens High-Rise

The developer of a new residential tower in Queens, N.Y., that includes a large “co-living” component is looking for a mortgage of up to $270 million.The 467-unit Alta, in the Long Island City neighborhood, is owned by New York firms Simon Baron Development and Square Mile Capital. The partnership is shopping for a floating-rate loan with a term of five years. It’s asking lenders for quotes at two proceeds levels: $240 million...

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