The Afternoon Wrap: Tuesday

An apparent electrical fire last night damaged the Macklowes’ 510 Madison. [Bloomberg]

Former City Planning chief Joe Rose unloads on the zoning code as a Giuliani-era plan is finally put to bed. [The Real Deal]

Paterson threatens to veto a millionaire’s tax … unless the Legislature approves about $11 billion in cuts. [PolitickerNY]

The historic façade of 211 Pearl has taken a trip around the block to nestle aside a new Rockrose tower. [Curbed]

Lower Manhattan’s new National Sports Museum is having big financial problems [Bond Buyer (subscription)]

Wal-Mart is shrinking its workforce at its AK headquarters, but adding jobs in NYC, “the fashion hub.” [AP via Crain’s]

Ray Kelly says downtown development delays and budget constraints will slow NYPD’s plans for a major Lower Manhattan security initiative [AP via Crain’s] The Afternoon Wrap: Tuesday