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NEW YORK CITY-The developers of a $1.25-billion condominiumtower on Park Avenue in New York City have secured a constructionloan for the project. The Children's Investment Fund Foundation hasassured to provide $400 million to Los Angeles-based CIM Group.
CIM and New York-based developer Harry Macklowe are developingthe 1,395-foot-high residential tower in midtown Manhattan. Theproject, called 432 Park, will be the tallest residential tower inthe US when it gets completed. For the full story, go toWall Street Journal .
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