Which arrested development site is the one to watch? That would be 953-961 First Avenue (at 53rd Street), where the Alexico Group planned to build a 161-unit luxury rental building called the Oliver. Check out the big names trying to foreclose on the site: Prudential Douglas Elliman boss Howard Lorber and down-on-his-luck developer Harry Macklowe. They want to build a residential tower on the site, and we're starting to feel those 2006 tingles again. [Crain's; previously]
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