NEW YORK CITY-A Los Angeles-based real property firm, established by an executive of Drexel Burnham Lambert and two former Israeli commandos, is ready to unveil plans for its new residential tower in New York. Last year, CIM Group seized a Park Avenue development parcel in Midtown Manhattan for $305 million.
The firm and New York-based Harry Macklowe have planned to build over 1,300-foot tall residential and retail complex designed by Uruguayan-born architect Rafael Vinoly. The project, called 432 Park Ave., will include 128 condos. For the full story, go to Wall Street Journal .
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