By Andrew McIntyre ( July 24, 2014, 7:21 PM EDT) -- Banco Santander SA has loaned $71 million to Ben Shaoul of Magnum Real Estate Group LLC for construction of the Kips Bay project, Mortgage Observer has reported. A partnership between Magnum and 40 North Management is planning to build a 242-unit dormitory at 24th Street and First Avenue in New York, Mortgage Observer said, citing previous reports. The parties paid $32.3 million for the site last year, according to Mortgage Observer....
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