Sitt Asset Management buys 113 Spring Street, uncovering the NYC locations featured on iconic rock album covers … and more

1. Sitt Asset Management buys 113 Spring Street for $32.5 million [Post, 3rd item]
2. UDR sells Phoenix portfolio to sharpen focus on NYC and Washington, D.C. [WSJ]
3. Through May, NYC residential permits are up 39.4 percent, but still 58 percent of 2008 peak [Crain’s]
4. Exempting Hudson Yards from living wage proves wise: Quinn gets big campaign donation from Related [Post]
5. Silvercup Studios is “seriously looking” at expanding in Queens, Alan Suna reveals in Q&A [NYT]
6. Man discovers where in New York City iconic rock album covers — by Bob Dylan, Neil Young and others — were photographed [NYDN]
7. 40,000 square feet of retail space could become available at Haim Chera’s 575 Broadway [Post, 4th item]
8. BofA pays another $375M to settle suit related to Countrywide mortgage practices [Reuters via NYT]
9. Still, BofA records $2.5B in second-quarter profits thanks in part to improving mortgage business [NYT]
10. NBCUniversal backs off plan to build 3,000 homes on backlot around its Hollywood studio [Variety]
11. Detroit has already razed 4,500 vacant homes, plans to demolish another 1,500 by September [CNBC]
12. After London, New York City is the favorite city in the world for the super-rich [Forbes]
13. Man who allegedly bilked WTC workers out of $1M in pension scheme gets house arrest — at parents’ luxury Jersey Shore condo [Post]
14. New Haven plans to restore pedestrian grid on top of Oak Street Connector highway to rejoin the Hill section of the city with downtown [NYT]
15. City plans to move Civic Virtue statue near Queens Borough Hall to Brooklyn cemetery [NYDN]
16. Researchers find correlation between the housing crisis and child abuse [Reuters]
17. City, feds will jointly manage Jamaica Bay [NYT]
18. DOB to investigate Gansevoort Park Avenue pool parties following yesterday’s report [Post]
19. Prominent Queens Republican charged with stealing $50,000 from Flushing Meadows-Corona Park [NYT]
20. Builders of America’s largest home continue to try to unload it in wake of recession [Post]