In This Week's Observer…

Eight-figure recession deals for the eight-figure set.

Les Wexner asks $60 million for 834 Fifth duplex.

Related faces time frame changes, financing worries on West Side rail yards.

Shaun Donovan's headed to HUD. What's next for city's affordable-housing push?

What real estate hopes for from Obama.

Marc Lewis has been doing New York real estate since Obama was 12.

The $1,000-a-foot office trophy? Over like George Bush.

Michael Van Valkenburg Associates signs lease in SL Green's Booklyn prize.

Chocolate Bar owner Alison Nelson returns to West Village she was priced out of in '08.

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