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Unarrested Development

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Two and a half years have passed since we heard anything about the planned condo-hotel near Bryant Park, but there's new news! Even though Ziel Feldman's company HFZ Capital Group sold the property at 12-20 West 40th Street for $83 million, they will still be the building developer. A rep said an old design by Morris Adjmi will likely not be used, but city approval has already been granted for a 32-story, 186,940-square-foot building. [NYP; previously]