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This month in real estate history: Japanese bank buys half of Eastdil, 1961 zoning law takes effect … and more

City Center, the former Mecca Temple
City Center, the former Mecca Temple

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From the December issue: The world’s largest financial brokerage, Japanese bank Nomura Securities, paid $50 million to buy half of Midtown-based real estate investment firm Eastdil Realty, 28 years ago. The first comprehensive overhaul of the city’s zoning laws since they were established in 1916 took effect 53 years ago and more important items from this month in real estate history. [more]