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Real Estate Rumors: Durst, IMC Equity, Raizada Vaid

By Andrew McIntyre (December 16, 2016, 5:14 PM EST) -- The Durst Organization has purchased a development site in the Long Island City neighborhood of Queens for $175 million from a venture of Hakim Organization and Property Markets Group, The Real Deal reported on Thursday. The deal is for the so-called Clock Tower development site on 41st Avenue, where the seller has planned to build 800 residential units, one-third of those condos and two-thirds rentals, according to the report. The site is entitled for roughly 1 million square feet of development, The Real Deal said....

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