Might the Hotel Pennsylvania live past the year 2013? Steve Cuozzo reports that front-office turmoil at Merrill Lynch may derail the firm's planned move from the downtown World Financial Center to a new Midtown skyscraper built on the dust of a razed Hotel Penn (right). The deal was pretty much done, with Vornado agreeing on both a long-term lease on the Seventh Avenue land and the new tower plan. Cuozzo writes: "It isn't clear whether an initiative so far along could be derailed. But Merrill's decision about what to do when its lease at Brookfield's World Financial Center expires in 2013 'is being reopened,' a different real estate source said yesterday." Adderall dealers and back-room brothel operators take note.
· Bull Stuck in Neutral [NYP]
· 'Heavy Tug' Fails: Merrill Headed For Hotel Pennsylvania? [Curbed]
· Merrill Lynch Getting Sexy 'Heavy Tug' to Stay [Curbed]