Thursday: One Bryant Park, One Jeopardized Bubble?

Thu, 27 Jul 2006 08:42:00 -0400

Not in N.Y.

Akin Gump Stauss Hauer & Feld, a fancy group of fancy-named lawyers, takes 203,000 square feet in the Bank of America building at One Bryant Park. The firm, god bless them, will pay over $100 per square foot for the 41st through 46th floors. Bank of America gets the tip-top 51 for itself (plus 36), and developer Douglas Durst gets to be a very happy man. (Globe St.)

There won't be a West Side stadium for the Olympics or the Jets, but at least the rail yards will be sold for half a billion dollars. (Sometimes The Metropolitan Transportation Authority seems so powerful). Next door, little Javits doesn't look bad either. (New York Times)

Brooklyn's transportation system, on the other hand, hasn't been so fortunate. A 200-foot stretch of rail yard between Bay Ridge and Sunset Park has been unlocked for over a year. We've got nothing against illegal dumping or prostitution, though. (NY Daily News)

The days of our nation's overpriced real estate are finally over. In New York, however, home prices are still inflated by 43 percent--so, really, the bubble is fine. (CNN/Money)

If 16,000 people on Staten Island lose power, does it make a sound? Apparently not--at least when Queens is hogging all the attention again. (WCBS)

Update: That happy developer is Douglas Durst, not David.

- Max Abelson

Observer » Thursday: One Bryant Park, One Jeopardized Bubble?

Thursday: One Bryant Park, One Jeopardized Bubble?