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  • By Owen Thomas

    Send a link to this post 'Mort Zuckerman Stuck with $980 Million Hole in the Ground' via email:


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    Feb 7, 2009 2:47 PM 4,899
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    more about

    #mortzuckerman

    Mort Zuckerman's NYU Scholarship Students Are Bernie Madoff's Latest Victims

    Mort Zuckerman's Plan To Save Newspapers Will Be Foiled By His Inability to Do Math

    Mort Zuckerman Unmasks New York Daily News as Anti-Semitic Rag

    read more: #realestate, #mortzuckerman, #bostonproperties, #250w55thstreet, #gibsondunn, #proskauerrose

    Mort Zuckerman Stuck with $980 Million Hole in the Ground

    Lawyers vs. real-estate developers? It's a fight almost everyone else wins. Boston Properties, the real-estate empire of U.S. News publisher Mort Zuckerman, has given up on a 39-story tower in Hell's Kitchen.

    The all-glass office building in a formerly residential Manhattan neighborhood was to cost $980 million and house two major law firms, Gibson Dunn and Proskauer Rose. Last week, Boston Properties executives said they'd reached agreement with Proskauer; since then, the lawyers have backed out. Without leases in hand to make the project viable, Boston Properties has suspended construction-leaving the lot at 250 W. 55th as another highly visible relic of the boom.

    (Photo via Google Maps)


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