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Coming Attractions

HID Acquisition Group, LLC dropped $47 million on a Midtown development site that stretches from East 48th Street to East 47th Street between Fifth and Madison Avenues. The firm plans to raze the existing office buildings and erect at 31-story condo tower with studios, one- and two-bedrooms, and "amenities specifically targeting the international pied-a-terre market"—in other words, this baby will be expensive. [CurbedWire Inbox (via WSJ); photo via Property Shark]