The Round-Up: Wednesday

Charles Miraglia, the official in charge of elevator safety at the Housing Authority, resigns. [NY Times]

State inquiry into the Deutsche Bank Building fire last year narrows in on the conduct of two companies—Bovis Lend Lease and the John Galt Corporation—though no word yet on whether charges will be brought. [NY Times]

As the Federal Housing Authority grows amid the financial crisis, so does the risk of fraud on a massive scale. [NY Times]

Fannie Mae and Freddie Mac participated in an “orgy of junk mortgage development” that will eventually tie them to eight million foreclosures. [NY Times]

What $350,000 gets you. [NY Times]

Anchored by the world’s largest food distribution center, Hunts Point has made an extraordinary recovery from the terror of the 1970s. [NYDN]

Newark attempting to lure a wholesale produce market away from Hunts Point with major incentives and a $800 million price tag to build on its newly developed industrial land. [NYDN]

Bloomberg warns of big layoffs if a 7 percent tax break and the $400 property tax rebate aren’t forfeited. [NYDN]

Boutique bowling alley Lucky Strike coming to Queens, while rumors abound that the company is also considering reopening the borough’s beloved Woodhaven Lanes. [NYDN]

Between the Bricks: Citigroup won’t renew its lease at 125 Broad Street at the end of 2009, freeing up 10 floors of prime downtown space; Mizhou and the National Basketball Association looking to lease at 11 Times Square; LCOR secures $33 million construction loan from Bank of America for its 142-unit McCarren Park development. [NY Post]

Two boats destroyed during a fire at New Jersey’s Lincoln Harbor Marina yesterday. [NY Post]

Pershing Square Capital Management’s William Ackman is betting General Growth can avoid bankruptcy. [WSJ]

Housing inventory in urban areas nationwide shrinks 3.6 percent in November. [WSJ]

The Round-Up: Wednesday