In This Week's Observer…

Explaining the voodoo economics of 15 Central Park West.

Freddie Mac’s ex-president buys a West Side condo, sans mortgage.

Why won’t Manhattan rents come down this summer?

Anthony Fodera, a business owner at Willets Point, lays into Mayor Bloomberg.

The last big landowner in Columbia’s West Harlem way readies for a showdown.

Obama and McCain get little love from New York real estate–so far.

A former Carter adviser plans a new Bryant Park hotel.

The Hotel Pennsylvania inexplicably shoulders on, hackers rejoice!

In This Week's Observer…