It's been too long?at least a week?since we reported on a dodgy city land deal. So here's a beauty: seems the City sold Related Group head honcho Stephen Ross a block of land at 42nd Street and 10th Avenue for $100,000?less than a price of a Hell's Kitchen studio apartment?last fall. Reports the Daily News,
If it sounds like a sweet deal, Ross must have thought so: He and his partners, TRM Associates, paid $107 million for the lease rights to the property, and sources say they plan to build a 60-story building there.Conspiracy theorist note: "Ross, chief executive of the The Related Companies, is a close friend and former business partner of Deputy Mayor Daniel Doctoroff." If it wasn't for that little $107 million Ross had to pay to acquire the site's lease rights, we'd really be outraged.
· Secret city land deal a whopper [NYDailyNews]