The Afternoon Wrap: Tuesday

Even though OPEC has been trimming production to slow the tide, oil falls to it lowest price in 20 months. [NY Times]

Millionaire landlord Alistair Economakis finally succeeds in buying out five tenants at one of his LES tenements who had held out for five years. Now he can build a mansion for his wife and two kids. [NY Post]

President Bush leads a 90-minute ceremony to rededicate the newly renovated Intrepid Sea, Air & Space Museum (formerly the U.S.S. Intrepid) at Pier 86 on the West Side. [City Room]

If history is any guide, lawmakers will have a very tough time succeeding in their efforts to place a toll on East River bridges. [City Room]

A 125-foot condo by Gilman Architects known as The Prism on its way to Long Island City. [Curbed]

Lincoln Center’s Alice Tully Hall unveils its shimmering new glass façade. [Curbed]

Now that a plan to build a high-rise along Tin Pan Alley has collapsed, preservationists are pushing to landmark the area. [TRD]

With developers struggling to secure financing from banks, NYC land prices have plummeted, in some instances by as much as 75 percent. [TRD]

The Center for an Urban Future releases a report featuring influential authors, developers, architects and amusement industry experts offering up their visions for Coney Island’s future. [CUF]

The Cake Shop—LES’ beloved rock venue/coffee house/basement bar—receives approval from Community Board 3 for a street-level liquor license. [SLES! via BoweryBoogie]

Pies for the East Village! [EV Grieve]

The Afternoon Wrap: Tuesday