In this morning’s Wall Street Journal, the next stage in the saga of the building HUDSON BLUE at 423 West Street is reported:

http://online.wsj.com/article/SB10001424052748704017904575409722058648014.html

This building, located a few doors down from the 3 Richard Meier Towers, home to celebrities Calvin Klein and Hugh Jackman, somewhat emulating their glass and white steel facade, has been a building in limbo for several years. The Wall Street Journal reports it as a textbook case of the aftermath of the explosive credit years…..we beg to differ: “A building in this location, with A-grade views and significant comparable sales steps away should have been a success: it did after all come to the market at a time when everything was selling,” says Leonard Steinberg, managing director of Douglas Elliman and head of the LUXURYLOFT team. ” The reason this did not succeed was that the design, the quality of construction and the timing were all off….badly off.  For this building to succeed in the market place, I believe the entire interior needs to be gutted and re-built.”