The S.E.C. filed a civil complaint against Citigroup, with new evidence that the bank kept cutting bond deals—including a crippling one with the M.T.A.—when it knew the market was headed south. [NY Times]
But commercial property sales tumbled 70 percent last year and may be headed downward another 20 to 25 percent in 2009. [Reuters]
Recession takes the air out of bloated McMansions. [WSJ]
Italian investor takes majority stake in Flatiron building, plans bellissimo albergo. [NYDN]
… Guess he didn’t get the hotel industry’s gloomy memo! [NY Times]
Dowdy design in store for Atlantic Yards stadium, if the thing comes through at all. [NY Post]
Commercial condos for gem-peddlers on West 47th? Why not, says Barnett! [NY Post]
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