Thursday: One Bryant Park, One Jeopardized Bubble?

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  • Akin Gump Stauss Hauer & Feld, a fancy group of fancy-named lawyers, takes 203,000 square feet in the Bank of America (BAC) 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

    Thursday: One Bryant Park, One Jeopardized Bubble?