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VALLEY STREAM, NY-Hawthorne Court, a distressed 90-unit  condominium project just over the Queens border in Nassau County, will be converted into high-end rentals, GlobeSt.com has learned. Zeus Capital Managers, a European real estate fund, has acquired the multifamily property at 125 South Cottage St. from Manhattan-based Community Preservation Corp. for $23.5 million following the purchase of the project’s existing loan at a significant discount, according to company chairman Ed Rotter

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