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Developer Buys Two Parcels of Land for New York City Skyscraper Plan.
Knight Ridder/Tribune Business News, December, 2003
By Tania Padgett, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Dec. 20--Developer Douglas Durst's plans to build a skyscraper in midtown got onto sure footing this week when he bought two parcels of land on a block near Times Square that would give him the real estate he needed for the project, sources said.
Durst is partnering with Bank of America Corp. to build the tower and help pay for the land purchase, a bank spokeswoman said. Durst and the bank purchased the two parcels for about $46 million, which comes to about $384 per square foot. The bank plans the skyscraper, to go up at 42nd Street and Sixth Avenue, to serve as its New York headquarters, the spokeswoman said.
The 50-story, 2.1-million-square-foot office...
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