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Broad Street tower in Mount Vernon scores $59M in construction financing

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The joint venture behind a 16-story tower being built at 42 Broad Street in Mount Vernon has secured a $59 million loan for construction. Partners the Alexander Developer Group, the Bluestone Organization and JP Morgan Asset Management were advised by Cole Schotz in securing the financing from Santander Bank and People’s United Bank, according to a press release about the transaction. The completed building will have 249 apartments, first floor retail space and a four-story parking garage.

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Westchester & Fairfield