The Kolner Observatorium fur Submillimeter-Astronomie (KOSMA) has recently been equipped with a new 3m submm telescope. The new telescope dish has a CFRP backstructure and aluminum panels with a mean surface accuracy of the individual panels of well below 10 mu m. The 18 panels of the primary reflector have been adjusted to a surface rms of at present about 30 mu m with the help of a holographic phase retrieval algorithm developed for and previously used at the JCMT. The present main beam efficiency derived from observations of Jupiter and Saturn is similar to 45 % at 660 GHz. The new telescope features a chopping secondary and 2 Nasmyth ports. The excellent atmospheric transmission during winter time at the telescope site, Gornergrat near Zermatt, Switzerland, allow us flexible operation up to the highest atmospheric submm windows. We present the current status of the new telescope, in particular with regard to its surface alignment, and first astronomical results at 660 and 690 GHz.