Saturday, February 04, 2006

The Big Dig?

Curbed.com reports:
Finally, some good news for Harlem Park, the proposed 125th Street many-use development (including a Marriott hotel) that was announced in 2003 and kicked off with fanfare a year ago but has languished since. The Voice reports that the cash-poor developer, Michael Cardi, is planning to sell his stake in the project to a new group led by Vornado Realty Trust. Vornado's plan: an even larger development! For which we're expecting at least 16 shovels to be used at the groundbreaking.
According to Buildings.com, since January 1997, Vornado Realty has completed more than $6.8 billion in real estate acquisitions or investments. Note the word 'completed.'

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