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Development Update-o-Rama

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Developer the Lightstone Group has just received a $43 million construction loan for the building it's planning at 112-120 Fulton Street (a project bolstered by air rights from seven other nearby buildings). In honor of the occasion, the Journal reveals a few more details about the 58-story building: it will include 475 residential units with two floors of retail space, a rooftop terrace, and a fitness center, a.k.a. the standard luxury fare these days. The existing buildings on the site will come down beginning in October, construction will begin the following February, and the whole thing should be done about two years after that. [WSJ; previously]