The S.E.C. filed a civil complaint against Citigroup, with new evidence that the bank kept cutting bond deals—including a crippling one with the M.T.A.—when it knew the market was headed south. [NY Times]
Falling home prices and rising foreclosure rates yield silver lining: A 6.5-percent bump in sales for December. [NY Times and WSJ]
But commercial property sales tumbled 70 percent last year and may be headed downward another 20 to 25 percent in 2009. [Reuters]
Recession takes the air out of bloated McMansions. [WSJ]
Italian investor takes majority stake in Flatiron building, plans bellissimo albergo. [NYDN]
… Guess he didn’t get the hotel industry’s gloomy memo! [NY Times]
Dowdy design in store for Atlantic Yards stadium, if the thing comes through at all. [NY Post]
Commercial condos for gem-peddlers on West 47th? Why not, says Barnett! [NY Post]
