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The expected new home of Major League Baseball's television network is being chopped down in size because of financial concerns. Vornado Realty Trust is having trouble securing the financing to erect a high-rise tower on 125th St. and Park Ave., and is currently renegotiating with MLB about its lease. The tower may only rise 14 stories, down from 21 stories--apparently lack of interest from other potential tenants is also hamstringing the initial architectural plans. It's an outcome that may please critics of Harlem's gentrification and corporate sterilization, but is also a salient example of NYC's economic troubles.
Harlem Tower Shrinks With Market's Outlook
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The tower may only rise 14 stories, down from 21 stories
See, we're colonizers but we're colonizers with a budget so... could you give us a discount while we take over your neighborhood?
They still couldn't secure enough tennants and financing to build the original tower. Harlem's comeback appears pretty much residential.