In This Week's Observer…

The Olsen twins list their One Morton Square penthouse again–this time for $11.9 million.

The $50 million Kress family penthouse at 1020 Fifth is yanked off the market.

The barometers of the New York City housing market go haywire. What’s next?

Larry Silverstein wins the $1 billion-plus bid for 1177 Avenue of the Americas.

Douglas Durst’s One Bryant Park to become city’s second-tallest building.

Brookfield’s Ric Clark talks about the West Side rail yard bids and Merrill Lynch maybe moving to midtown.

The state may not expand the Javits Center after all.

Village literary pub Chumley’s could reopen as soon as this March.

Istithmar CEO David Jackson talks about the firm’s New York strategy–or lack of one. In This Week's Observer…