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Moinian Secures $539M Loan for Midtown West Tower

08.04.2014

The Moinian Group has secured a $539 million loan with the New York State Housing Finance Agency-with credit enhancement from Bank of China-for its luxury residential tower at 605 W. 42nd St. SL Green will be participating as an investor in the project as well. The new flagship building is currently the largest residential tower in Manhattan, with 1,l74 units, 235 of which will be affordable apartments. According to CEO, Joseph Moinian- “605 West 42nd Street is going to be a shining example of a large-scale, out-of-the-ground residential development that realizes a bold vision—pushing the limits of luxury and convenience to create not only a living space, but a lifestyle.”

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