The Rafael Vinoly-designed superscraper destined for 432 Park Avenue has just had its destiny affirmed in the form of a $400 million construction loan from the Children's Investment Fund Foundation. (The fund donates some of its profits to charity.) That's the last bit of funding the CIM Group and Harry Macklowe need for the building, which should be done by the end of 2015. And if it isn't, the new loan doesn't allow the lender to go after CIM's other assets if CIM defaults. Just in case. [WSJ; previously]
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