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Developer Picks Up the Scraps of Stalled High Line Rental

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Developer Shaya Boymelgreen's time lately has been spent doing things other than building luxury apartments?tasks such as defending his shaky empire, and packing his things into cardboard boxes. So he's finally rid himself of 500 West 23rd Street, a juicy development site along the High Line where a new rental building was planned before the credit crunch put the project on ice. The Post's Lois Weiss reports that Chicago's Equity Residential, controlled by Sam Zell (no stranger to negative headlines), bought out Boymelgreen at the site. Filings call for a 13-story building with 96 apartments, and a Boymelgreen rep tells Weiss it will still be developed as a "high-end residential rental." After a minor hiccup, the High Line boom carries on.
· Between the Bricks [NYP, second item]
· Jay-Z's Hotel Among Projects Frozen By Boom's End [Curbed]