TF Cornerstone secures $516m for Long Island City project

TF Cornerstone has received $516 million in financing from the New York City Department of Housing Preservation and Development for the construction of its mixed-use assemblage in the Hunters Point neighborhood of Long Island City in Queens, N.Y., according to Commercial Observer.

The debt is split between two adjacent projects, a 56-story, 800-unit residential tower located at 52-03 Center Blvd., and a 46-story mixed-use high-rise located at 52-41 Center Blvd. on Queens’ East River waterfront.