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Tuesday, May 29, 2007


WEST 50S BLOCK BUSTER 

WEST 50S BLOCK BUSTER By STEVE CUOZZO - Business News Financial Business and Money



More action on the West 50s of Manhattan. An office tower of 975,000 square feet is planned for West 54th Street and Eighth Avenue.

THE wrecking ball - not the curtain call - is coming to the theater
district block bounded by Broadway and Eighth Avenue and West 54th and 55th
streets.

The Eighth Avenue east blockfront and adjacent buildings on West 54th
Street are being primed for demolition by Gladden Properties, a joint venture of
Boston Properties and Robert Gladstone.

Our roving tipster who calls himself "John Q. Public" reports "men
working with sledgehammers bashing away at the interior of the old Tripple Inn
at 263 W. 54th St."

The development site, which also includes an empty lot and an office
building on West 55th formerly owned by Hearst, "can support" a new office tower
of 975,000 square feet, according to Boston's first-quarter SEC filing. That's
even bigger than we predicted when we first reported the joint venture's
purchases of the properties for around $200 million in January and March.

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