Today marks the ceremonial groundbreaking (Mayor Bloomberg will be there!) for Extell's International Gem Tower in the Diamond District, but The Cuozz reports that the SOM-designed office tower has experienced some shrinkage. The 39-story diamond-studded tower will now only rise 32 stories after a holdout refused to sell some air rights. Oh, and there's this pesky hurdle: Extell doesn't have a construction loan yet. [NYPost; previously]
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