NEW YORK CITY-The developers of a $1.25-billion condominium tower on Park Avenue in New York City have secured a construction loan for the project. The Children's Investment Fund Foundation has assured to provide $400 million to Los Angeles-based CIM Group.
CIM and New York-based developer Harry Macklowe are developing the 1,395-foot-high residential tower in midtown Manhattan. The project, called 432 Park, will be the tallest residential tower in the US when it gets completed. For the full story, go to Wall Street Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
