Advertising giant Saatchi & Saatchi has renewed a long-term lease on 819,000 square feet at Tishman Speyer’s 375 Hudson Street, the 1.2 million square-footer at the corner of West Houston Street.
The Queens Museum of Art is going forward with a city-financed, $47 million redesign that will double its size. [NYDN]
The Department of Environmental Protection has slapped a gag order on the city task force that polices odors from a fertilizer plant in Hunts Point. [NYDN]
After tripling in cost and amid accusations of mob influence, the city is auditing the largest construction project in its history, the Croton
Report: 38,000 renters lived in the 15,000 buildings that went into foreclosure last year. [Crain’s]
In March U.S. home foreclosures rose 57 percent and bank repossessions nearly doubled as homeowners walked away. [Bloomberg]
National retail chains are caught in a wave of bankruptcies, as consumer spending drops and credit markets tighten. [NY Times]
The Pope’s three-day visit will generate business for hotels, restaurants, and retailers, but probably not enough to cover the millions of dollars a day the city will spend to host him. [NY Times]