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Report: TF Cornerstone obtains $484M refinancing for NYC rental building

Property developer and manager TF Cornerstone Inc. secured a $484 million refinancing for its 44-story The Max luxury rental building in New York City, Commercial Observer reported, citing property records.

The New York State Housing Finance Agency provided the debt for the fully leased, 1,028-unit property at 606 W. 57th St., refinancing an earlier $380 million mortgage, according to the report.

The publication could not obtain a comment from TF Cornerstone or New York State Housing Finance Agency officials.