Thank God for bankruptcy! By declaring Chapter 11, General Motors has been allowed to officially reject its 120,000-square-foot lease at the sublimely modernist 601 Lexington Avenue (better, if formerly, known as the Citigroup Center).
Mort Zuckerman's Boston Properties, which owns the stunning rascacielos, revealed the news in its second quarter earnings report:
On June 1, 2009, Read More
Daily News: “AUTOCRAT!” The word was first used to describe Napoleon more than 200 years ago, and my how it's grown! But there is a pun here: President Obama is setting policy for American auto-makers that are benefiting from government bailout money. It's actually pretty nice, except that the overall tone of the article Read More
Nearly every current poll shows that most Americans oppose federal assistance to General Motors, Chrysler and Ford, which must be worrying news for members of Congress as they ponder whether to support the proposed $15 billion emergency loan package. Political analysts warn of the consequences for lawmakers who support the “bailout everyone loves to hate.” Read More
Last week I was standing in the Ralph Lauren store on 71st and Madison admiring a $400 cashmere toddler sweater when a fresh-faced young mommy hopped out of her black Denali XL. She was casually dressed in sporty Gucci loafers. Over her shoulder she carried a plump, red-faced infant. The sales girl immediately recognized her Read More
Mr. Roger C. Altman Evercore Partners 55 East 52nd Street New York, N.Y. 10055 Dear Roger: You may recall that I wrote you a couple of years ago in connection with some ideas for the Kerry campaign. I didn’t hear back, which didn’t surprise me, although now that I think about it, the fact that Read More
The Plaza. Last month, The Observer reported on developer Harry Macklowe's recent buying spree. In addition to purchasing a townhouse at 53 East 77th Street for $15.75 million, Mr. Macklowe reportedly plans hotel and luxury condominium developments in the East 50's. Now, Peter Slatin reports that Mr. Macklowe has just purchased two units Read More
