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City Sinking $25M in Hell

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Now that the city and Related are best of friends (if you forget about that Kingsbridge Armory business), The Real Deal passes along word that our fearless leaders are chipping in $25 million for Related's long-awaited 440 West 42nd Street project. The former Hell's Kitchen Swimming Hole, to refresh your memory, will be a 59-story complex of affordable and market-rate housing as well as a Frank Gehry-designed theater. The residential stuff is supposed to be done in 2011, and the theater in 2012. [Real Deal]

440 West 42nd Street

440 West 42nd Street, New York, NY 10036