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. Last Updated: 07/27/2016

Trump Seeks New Heights

NEW YORK -- Donald Trump, who has already left his sizable imprint on New York City's skyline, is starting work on what he says will be the tallest residential building in the world, a $360 million slender glass monolith across the street from the United Nations.

The tower, to rise 290 meters, or 72 stories, above First Avenue, is proceeding while investment banks are sharply curtailing lending for major real estate projects in the city.

Still, Trump says he has both the financing f from two German banks f and the city permits needed to proceed with the project.

But as word of the size of the project has filtered out, residents have begun expressing concern about the prospect of a tower that they contend will dwarf all the buildings in the neighborhood, whose biggest presence is the UN complex. The UN Secretariat is 39 stories tall.

Trump does not expect any problems. And having built Trump Tower, Trump Palace and Trump International Hotel and Tower, he already has a name for his latest project: Trump World Tower.