505 Fifth Avenue spiffs up blocks around it

Did 505 Fifth Avenue change the blocks around it? Some say the glass-wrapped building did change the northeast corner of Fifth Avneue and 42nd Street for the much better commercially, putting it in higher demand among leasers and developers. One piece of recent evidence to point to for this change is the new Taipei Economic and Cultural Office next-door at 1 East 42nd Street, where the long-empty 11-story building has been spiffed up. Also, the area’s invesment sales market is reportedly about to see a lot of activity, with as many as four addresses between 42nd and 45th streets about to change hands. more [Post]