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Toy Building Misses Another Holiday Gift-Shopping Season

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Steve Cuozzo?man, myth?checks in on one of our favorite stalled projects today: The ultra-fabulous condo conversion of 1107 Broadway on Madison Square Park, formerly one of the International Toy Center buildings. The development was supposed to include a tenants' bowling alley, a classy eight-story addition from architect John Pawson and prices approaching $2,500/sf. Of course none of this has happened, and the building is completely empty except for a bank branch on the ground floor. Now The Cuozz reports the building has popped up on an analyst's list of "troubled assets," though foreclosure is unlikely. What is likely, however, is "a miserable state for years," complicated by too many hands in the pot and $343 million in debt to Lehman Brothers (remember them?). Sounds like quite the 7-10 split. Let's relive happier times with a look at that Pawson-designed addition to the 16-story building:

· Isle of misfit Toy Buildings [NYP]
· 1107 Broadway coverage [Curbed]

1107 Broadway

1107 Broadway, New York, NY 10010