Ground Zero’s "train in a box" is a supposedly subterranean railroad held up in midair and exposed to daylight, but passengers shouldn’t notice service changes. [NY Times]
The New Jersey Meadowlands Commission is ending its relationship with a developer that wanted to build thousands of homes and a golf course atop several landfills. [NY Times]
Louis R. Cappelli, a Westchester County builder, emerged as an unlikely potential savior after the federal government quashed a decades-long effort to bring casino gambling to the Catskills. [NY Times]
The Fed has turned to BlackRock to managing $30 billion of hard-to-sell assets from Bear Stearns. [NY Times]
The chief of Moody’s rating agency will step down (voluntarily). [NY Times]
A bedbug expert from HUD claims to have seen the insects on subways across the city. [NY Post]
The State Assembly passed foreclosure legislation that would impose a one-year delay on foreclosures when a homeowner defaults on a mortgage. [NY Post]
Gimme Shelter: A rendering of Robert De Niro’s Nobu Hotel project in the Financial District; Baseball pitcher is eyeing a neighboring condo for expansion. [NY Post]
The MTA Chairman is removing a controversial fence that barred public access to Lake Montauk on his Long Island property, but the area will remain "private." [NYDN]
The New York State Attorney General is cracking down on real estate fraud. [Crain’s]
New condo developments are coming with curated art collections. [NY Sun]
